We ensured our client could accurately measure profitability

Situation

Cunningham sees beyond your numbers by understanding the unique challenges of doing business in foreign countries and transacting in foreign currencies. In this case, our client, a successful distributor of computer hardware and software was having a difficult time accounting for sales and purchases in a foreign currency.

With a significant percentage of their business generated outside of Canada this was a serious problem, as their monthly reporting was not able to accurately measure their profitability.

Solution

Our knowledgeable specialists worked with their controller to develop a cost effective approach to accurately measure foreign exchange transactions. The goal was to ensure that the client's monthly financial reporting systems correctly and accurately measured and captured the multitude of foreign currency transactions.

Thanks to our clear understanding of this type of challenge, our client is now able to report accurate results to 3rd parties on a timely basis.