As the company transforms into a HoldCo there are a few requirements that I realize I need to meet:
- Figure out the financial statements of the company including organizing the income statement and balance sheet with a focus on managerial accounting versus GAAP. I need to really understand the flow of work and the costs associated with them. This means both personal and business costs are modeled under a single ledger.
- Clean up the balance sheet. Currently the balance sheet for the HoldCo is a total mess. I want to clean it up to remove as many unnecessary pieces. This means divestment, reorganization of debt and general simplification. This will also mean reordering spending to appropriate accounts. The goal is to be aggressively asset light.