Engagement summary
Client Background
Lilac Solutions develops direct lithium extraction technology serving the global battery supply chain, operating across multiple jurisdictions including the United States, South America, and the United Kingdom.
Engagement Scope
R&M serves as Lilac's outsourced technical accounting partner, addressing complex multi-currency revenue contracts, stock-based compensation modifications under ASC 718, foreign-currency functional-currency determinations under ASC 830, and divestiture accounting. Engagement also covers ASC 842 lease implementation across international entities.
Services Provided
- ASC 606 contract analysis for licensing and tolling arrangements
- ASC 718 stock-based compensation modification assessment
- ASC 830 functional currency determination for foreign subsidiaries
- Remeasurement and translation adjustments preparation
- Divestiture accounting and discontinued operations analysis
- Audit readiness and technical-accounting memo authoring