Stout provided interim management services for a biopharmaceutical company through direct ownership of back-office accounting tasks. In addition to typical month-end close procedures, including the development of research and development accruals, the team assisted with the semi-monthly processing of payroll, recording of invoices, and staging of vendor payments.

The team also facilitated the annual financial statement audit to ensure filing by investor deadlines, and this work included review of financial statements to ensure compliance with generally accepted accounting principles (GAAP), review and preparation of footnotes in accordance with GAAP, and coordination and work with the external audit firm. The team performed multiple remeasurements of a lease in accordance with ASC 842, and they compiled memos for a convertible note financing event and stock modification for a terminated employee in accordance with GAAP.