LBA Haynes Strand acquires Cherry Bekaert’s Asheboro practice; and Fineman West merges in Jager.
NORTH CAROLINA: LBA Haynes Strand acquires Cherry Bekaert’s Asheboro practice
Details: LBA Haynes Strand has acquired the Asheboro, North Carolina, office of Cherry Bekaert, a Top 100 Firm, effective July 31.
LBA Haynes Strand, PLLC is based in North Carolina and offers accounting, assurance, tax, and advisory service. The firm already has offices in Matthews, Greensboro, Mount Airy, and Winston-Salem, North Carolina, but is expanding its footprint to Asheboro with the latest deal.
Financial terms of the deal were not disclosed. Cherry Bekaert, based in Richmond, Virginia, ranks 26th on Accounting Today’s 2019 list of the Top 100 Firms, with $196.4 million in annual revenue.
“Our firm has been focused on the middle market client base for more than three decades,” said LBA Haynes Strand CEO and principal John Bly in a statement. “We are excited at the opportunity to add quality team members in the Asheboro market, along with a strong client base. This is the next step in our firm’s growth plan.”
LBA Haynes Strand principal Chris Bunting will continue to lead the firm’s assurance department while principals Dave Recchion and Courtney Ageon from the Greensboro office will maintain local relationships in the Asheboro community. The Greensboro office team will also be supporting clients in Asheboro.
CALIFORNIA: Fineman West merges in Jager
Details: Fineman West & Company, LLP is merging in Steven L. Jager, CPA, An Accountancy Corporation, effective Aug. 1.
Jager’s firm is based in Sherman Oaks and will become the “Valley office” of Fineman West & Company, LLP, which is based in Los Angeles. Jager has been providing tax planning and compliance, income tax controversy and business strategic consultancy services for over 30 years. He represents clients before the Internal Revenue Service, Franchise Tax Board, Employment Development Department, and the California Department of Tax and Fee Administration, along with the City of Los Angeles on matters including tax examinations, appeals and collections. Financial terms of the deal were not disclosed.
The proposed accounting standards update aims to clarify an issuer’s accounting for certain modifications of equity-classified forwards and options (such as warrants) that remain equity classified after their modification.