Bookkeeping and Accounting Support
Our SPAC services:
Bookkeeping includes recording:
- operating income and expenses;
- warrant revaluation adjustments for warrants classified as liability instruments;
- shares subject to possible redemption presented as part of mezzanine (temporary) equity;
- changes in SPAC permanent equity arising from changes in temporary equity;
Preparation and submission of draft primary forms including the following:
- Balance sheet;
- Income statement;
- Statement of changes in equity;
- Cash flow statement;
Preparation of draft earnings per share calculations for one or, if applicable, two classes of SPAC’s common stock.
Updating draft footnotes to the financial statements on a quarterly basis, except for income tax footnote.
We provide draft quarterly primary forms and draft earnings per share calculations to you within 10 days after the receipt of all supporting documentation.
We will provide draft year-end primary forms and draft year-end earnings per share calculations to you within 15 days after the receipt of all supporting documentation.
For pre-IPO SPACs we can assist with the following:
- Determination of equity vs. liability classification of private and public warrants;
- Preparing F-pages for Form S-1;
- Preparing dilution and capitalization tables for Form S-1;
- Assistance with responding to SEC comment letters;
- Preparing post-IPO balance sheet for Form 8-K;