Brief for Presentation Background B&G Equipment has been ...

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Brief for Presentation
B&G Equipment has been owner-managed for many years before joining the Pelsis Group. Curtis-Dynafog was acquired during this period by B&G, and the process of consolidation has begun, with the back office functions already centralised.
The businesses faces a number of challenges as they become part of an international group with a high growth strategy. This will require a change in culture. There is a mix of new blood and experience - the business has hired a new VP Sales and the Head of Operations has been with the business for more than 25 years. The business system (Syspro) is out of date and requires an upgrade. Management reporting is cumbersome, and does not adequately support the needs of the business. There is little commercial or operational reporting. Working capital is high with a limited overview on stock turn, and there is little reporting on debtors or creditors. Financial reporting is a challenge with the limitations of the system. The requirements of the newly expanded business are significantly greater, and the reporting standards more onerous than before, requiring a step change. There will also need to be a post-acquisition fair value assessment on the US entities, a technical accounting exercise to assess any write down of value or intangible assets as a result of the change in ownership.
The business has started the consolidation project for the 2 sites, but these have not really started in earnest, requiring an extension to the existing facility and relocation of the current manufacturing facility into B&G. A detailed plan has not yet been prepared, but the lease has been extended at Curtis for 12 months. The total project is anticipated to take c. 10 months.
The finance department services both Curtis and B&G. It is composed of a Finance Manager, who has been with the business for 6 months. The challenges to reporting caused by systems issues makes it difficult to understand current levels of performance. There are also an Accounts Payable person and Accounts Receivable person. Both have been with the company for a number of years, and are potentially capable of more.
The Brief
Prepare a presentation of no more than 20 minutes on the priorities as you see them, and the plan you would propose to deliver the best outcome in the first 6 months in the business. You are not expected to address all the issues, listed but please identify them and explain why they are discounted within the timeframe given.

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