Acquisitions, Mergers, & Divestitures

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Presentation transcript:

Acquisitions, Mergers, & Divestitures Jordan Driskell

Most Common Projects Full Detail Conversion from one system of record to WolfePak Most common with new WolfePak clients. With existing WolfePak clients the most common projects are: Acquisitions Mergers Divestitures

Acquisitions When all or part of another company is purchased. Our most common type of project, after new client conversions (i.e. acquired new properties, wells, etc.). Examples of imports for Acquisitions: Properties Owners Division of Interest

Mergers A form of acquisition that is structured by combining the target company with the acquiring company. Typical project involves merging two WolfePak companies/entities. Plan Ahead!

Steps to a WP to WP Merger Create a new company that will become the surviving, ‘new’ company. Examine CoA and Sub-Tables for mismatches. Different accounts sharing the same number. Identical accounts or sub-accounts with different numbers. Run account/sub-account change utility to correct. Import missing accounts and sub accounts from secondary company to primary.

Merger Steps, cont.… Export secondary GL transactions or trial balances from secondary company. Import GL transactions or trial balances into the primary company. Perform a Trial Balance Reconciliation. Adjust Financial Reports.

Merger Tools Account Import/Compare Tool Account Number Change Sub-Account Change Export General Ledger Transactions Export Trial Balance Import General Ledger Transactions

Divestitures When part of the assets of a company are sold to another party. Considerations: Inactivating instead of removing or deleting. Property grouping Unique suspense codes.

Key Reports for Divestitures Property Listing Division of Interest Listing Owner Suspense Listing

Questions?