April 18, 2022
6 Weeks

Cruise Line (FL)

Growth Lab helps a large global player in the cruise line industry with adopting new standards and assessing their AP portfolio.

Additional Information
Completed in:
6 Weeks
Updated on:
April 18, 2022
Cruise Line (FL)

Project Background

The Issue

To ensure continues success after achieving strategic milestones, the client requested that we review their accounts payable portfolio and execute an adoption to current accounting standards.

Our Solution

Tasked with two different asks from the client, our project team was divided accordingly to handle each task. Because our teams work from the same location, it proved effective in corroborating the data amongst the two client requests. The teams were able to triangulate the data to ensure accuracy after which we were able to build our final deliverables.

The Result

Given that the project contained two components, our deliverables were of two different forms. For the Accounts Payable assessment, we delivered a final model that outlines the attributes of each vendor as well as a parallel model that groups vendors using several factors such as: complementary products, order timelines, dollar value, and category. For the new lease standard (ASC 842) our team delivered an instruction manual for the required disclosures as well as a detailed model of the accounting entries and schedules required under the new model.

A two-pronged project required a split but yet cohesive team. We were able to deliver just that.

This is how we create change, and we do it together.

Let us do so in the best way at affordable rates!