Manufacturing
Do it better, do it faster, and do it the right way!
Accuracy, speed-to-close, organization and efficiency are all key in any manufacturing environment. At CFGI, we help our clients by tackling the complex issues that hinder manufacturers, whether those issues stem from technical or operational accounting, IT, supply chain, risk and compliance, or other core business operations.
Our Approach
At CFGI, our experts are committed to addressing the intricacies of the inventory and manufacturing space, ensuring your operations are optimized for success. Here’s how we navigate the challenges:
Inventory & Manufacturing Solutions
- Costing Methodology Review: Evaluate and document costing methodologies for inventory, including FIFO, LIFO, and average cost.
- Overhead Cost Pool Determination: Define the inventory population and determine overheard cost pool(s) for absorption, constructing a robust costing model.
- Cost Absorption Methodology: Review overhead costing and absorption methodology, pinpointing where cost absorption occurs in the inventory production lifecycle.
- Process Flows and Journal Entry Documentation: Create process flows illustrating cost absorption in the manufacturing process, accompanied by journal entries for transparency and accuracy.
- Standard Costs Implementation: Develop standard costs, reviewing variances, and ensuring proper accounting treatment in a standard costing environment.
- Leveraging Technology: Determine how technology can optimize internal inventory accounting and operational reflection on the balance sheet.
Financial Reporting Integration
- Inventory Submodules and Tech Stack Enhancement: Implement inventory submodules and enhance manufacturing-specific tech stacks for streamlined and efficient solutions.
- SEC Disclosure Compliance: Review and ensure compliance with SEC disclosure requirements surrounding inventory.
- Inventory Obsolescence and Impairment Analyses: Prepare quarterly and annual inventory obsolescence and impairment analyses, providing comprehensive checklists.
- Interim Inventory-Centric Roles: Serve in key interim roles such as Plant Controller, Director of Cost Accounting, Cost Accounting Manager, ensuring seamless operations.
- SOX Controls and Processes: Develop SOX controls, processes, narratives, and policies associated with the manufacturing process to ensure compliance and risk management.
- Cross-Functional Impact Assessment: Identify cross-functional impacts on manufacturing stemming from other areas within the business, such as revenue recognition, lease accounting, digital transformation, commercialization of new products, and transactional support (IPO, M&A).
Why Choose CFGI?
We bring a wealth of expertise and a hands-on approach to elevate your inventory and manufacturing processes. Our commitment is to empower you to overcome challenges, optimize operations, and thrive in the competitive manufacturing landscape. Contact us today to explore how CFGI can be your strategic ally in achieving manufacturing excellence.
Connect With Our Leaders
Ben Martin
Partner
(201) 250-1048
bmartin@cfgi.com
Glenn DeVelis
Partner
(617) 875-8320
gdevelis@cfgi.com
Ed Sweeney
Partner
(215) 558-2866
esweeney@cfgi.com
JP Henderson
Partner
(347) 522-1598
jphenderson@cfgi.com
Partner With CFGI
For Better Results.
Partner With CFGI For Better Results.
