Purchase Accounting

Cedar Hill offers a full service purchase accounting assistance approach to help financial profession in valuing and recording acquisitions. Cedar Hills services are lead with  Purchase Accounting Documentation Book that serves as a central depository of accounting methods and documents employed in recording the acquisition in accordance with GAAP. The Book includes an executive summary explaining the valuation methods employed, all general ledger entries used to record the transactions, all valuation reports, purchase accounting amortization tables, and key acquisition documents (acquisition agreement, employment agreements, merger costs).

The Purchase Accounting Documentation Book has been well received by Cedar Hills clients.  The book can be shown to companies internal auditors, external auditors and bank examiners to describe the transactions.  As part of this service, Cedar Hill will organize a purchase accounting committee of the bank and do weekly, or daily updates on issues as they arise and maintain a checklist of required activities/responsibilities.

“Cedar Hill Advisors led our senior financial and lending management team in the nuts and bolts of purchase accounting planning process including recording all the general ledger entries to fair valuing the target bank's deposit and loans, including the very complicated and important ASC 310-30 specific credit problem loan valuations. Cedar Hill's project management approach, which started 2 months prior to closing, helped facilitate making a complicated process into a much more manageable process. Cedar Hill also recommended having our auditors continually updated and involved in the purchase accounting process, this really helped our auditors. We highly recommend Cedar Hill Advisors!"
Mickey Jones
EVP , CFO and COO First Citizens Community Bank ($1.4 billion in assets)

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