Case Study: a $1B+ international fashion retailer improves financial reporting and accounting transformation with BDO

a $1B+ international fashion retailer cuts P&L close to 5 days with BDO

The chief financial officer of a $1B+ international fashion retailer engaged BDO to conduct a comprehensive assessment of its finance functions, which included staff, organization, and processes.

BDO provided transformational recommendations and then supplied Interim Management Services professionals to act as Interim Chief Accounting Officer and Interim Financial Reporting Manager. Their work included reorganizing accounting processes, which notably reduced the monthly P&L close to five days and the balance sheet close to eight days. BDO also completed critical projects like implementing ASC 842 for over 2,500 leases and supported a planned change in ownership, while the BDO Tax team provided co-sourcing support.