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A CASE STUDY
Pharmaceutical Company Establishes Stand-Alone Operation in the US.
Transitional Services Agreement | US Entity | Carve Out
Our client is a pharmaceutical company that is branching out from its parent company during a recent carve out to focus on Research & Development for its groundbreaking medicine.
The company was supported by a Transitional Services Agreement (TSA) during the carve out and aimed to establish its own US operations as a standalone entity at the beginning of 2022. Unsure how to navigate this, the client called upon Amesto Global for assistance.
Amesto Global is delivering the following solution:
- Assistance with transition services as the TSA comes to an end, set up opening balances in ERP system from TSA provider
- Set up new ERP system, accounting operations, and supplemental accounting platforms and process workflows
- Processing the day-to-day accounting on the client’s ERP system
- Month-end closings which included all necessary GAAP adjustments
- Preparation of a regular monthly financial reporting pack including an analysis of the financial performances (balance sheet, profit-and-loss and cash flow statement), budgets and forecasts, as well as “CFO” commentary on variances
- Preparation of monthly board package with commentary for CEO presentation
- Assist with monthly cash budget set by CEO and provide analysis and updates to stay with expected cash burn for the month
- Assist with the coordination of tax return requests for R&D credits and year-end tax compliance
- Complete coordination of services through a single point of contact