FOREIGN SUBSIDIARIES - CASE STUDIES
L'ARTISAN PARFUMEUR - UK RETAILER OF QUALITY PERFUMES
Background
L'Artisan Parfumeur is part of an American owned investment group. Reporting however, involving the trading company and a holding company, is made through a French based head office, that has both a CEO and CFO. Following a Group reorganisation, shareholders wanted to see more financial independence of its trading parts.
Frenger's role
We were approached to take over the complete accounting and administration of an established retail operation with several outlets, mail order and internet sales. Our initial task was to work alongside the existing team of administrators to produce a clean set of books and all the accompanying records, contracts etc. Having accomplished this, the ongoing role is to carry out all accounting and administration for the trading company and its immediate holding company, with monthly reporting to the CFO in France.
Conclusion
All records were transferred onto Frenger’s Sage accounting suite with a new chart of accounts. In addition a new EPOS system was introduced into the Group. The client’s business benefited from a seamless changeover and their day-to-day accounting and administration is carried out efficiently and in a cost effective manner.
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