Philip Nathan has more than 15 years of experience in forensic and public accounting and specializes in assessing and managing the impact of complex consolidation structures, international operations and major transactions on clients’ systems of accounting and financial reporting.
Mr. Nathan has assisted clients across a diverse range of industries to enhance and document their accounting systems, processes and controls in connection with major transactions. He has advised clients in preparation for sales of divisions, spin-offs, corporate realignments and initial public offerings. Recently, he has served as the interim global controller for a worldwide franchisor of gyms, providing pre-IPO accounting support for a media company seeking to raise funds through a special-purpose acquisition company transaction amid complex convertible hybrid instruments. Mr. Nathan also provided post-merger integration support to a publicly traded pet food business, helping the company to reflect and report the effects of a complex reverse merger transaction. His experience also includes a publicly traded biotechnology company, where he helped evaluate the effectiveness of its internal controls regarding the calculation of foreign exchange gain and loss, as well as a major tax preparation business, where he assisted to reconstruct, document and automate its revenue recognition processes following the departure of key accounting personnel.
For each of these entities, Mr. Nathan provided interim controller-level staff augmentation services, ensuring the timely and accurate completion of month-end close and production of financial reporting packages. This role included conducting an in-depth review of business intelligence data to verify that monthly franchise fee revenues were being recorded based on the appropriate metrics, overseeing the ongoing and proper recording of consolidating journal entries and preparing comprehensive documentation to support accounting conclusions to external auditors.
Mr. Nathan also assisted the accounting department of a major hospitality company to implement the accounting for several major transactions over the span of three years. These transactions, involving more than 600 distinct legal steps, affected the movement of the client’s international management and franchise contracts to a UK-based ownership structure, the liquidation of more than 100 obsolete legal entities, the streamlining of the company’s intercompany loan portfolio and two separate spin-offs of its owned properties and timeshare business. Mr. Nathan led a team which interpreted the reorganization plans into specific journals to be recorded by the client’s accounting teams in multiple global locations and oversaw the development of a task-specific database designed to validate the entries recorded by the teams. To account for the formation of new entities, transfers of investments, intangibles and intercompany balances and mergers, Mr. Nathan’s team identified and managed numerous differences among the accounting for these transactions under consolidated U.S. Generally Accepted Accounting Principles and UK statutory reporting.
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Mergers & Acquisitions Advisory