Having a key finance leader dedicated to the overall vision of going public and being public is another key success factor. 19:10 - Project management best practices.Ed also suggests companies consider outsourcing resource needs when timing is very compressed. He encourages management to take stock of the finance function, internal audit function, control environment, and investor relations. Ed discusses the most important success factor-identifying resource requirements, including where gaps exist in skill sets and bandwidth. 13:50 - Resource skill and bandwidth gaps.The finance team needs to be ready to close the transaction and operate as a public company on day one post-close. According to Ed, a company has to balance both the pre- and post-IPO (or acquisition close) stages. Ed sets the stage by discussing the differences between the various transactions happening in the deals market aside from the traditional IPO, including SPACs, spins, and direct listings. Transfers and servicing of financial assets Revenue from contracts with customers (ASC 606) Loans and investments (post ASU 2016-13 and ASC 326) Investments in debt and equity securities (pre ASU 2016-13) Insurance contracts for insurance entities (pre ASU 2018-12) Insurance contracts for insurance entities (post ASU 2018-12) IFRS and US GAAP: Similarities and differences
Business combinations and noncontrolling interestsĮquity method investments and joint ventures
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