Baker Tilly Expands Philadelphia Life Sciences and Technology Practices with New Partner

Immanuel John K., CPA brings more than 30 years of consulting and auditing experience to Baker Tilly

PHILADELPHIA (June 19, 2019) – Leading advisory, tax and assurance firm Baker Tilly Virchow Krause, LLP (Baker Tilly) announces that Immanuel John K., CPA has joined the firm as a partner in the Philadelphia commercial practice. He will focus on the firm’s growing life sciences and technology industries.

John K. has more than 30 years of experience advising and auditing private and public companies in the technology, life sciences, professional services, medical devices, telecommunications, manufacturing and distribution industries. His experience includes advising and assisting clients in the IPO process and in secondary offerings.

“We are excited to have Immanuel join our Baker Tilly family with all of the talent he brings to further enhance our leadership and focus on our life sciences and technology practices,” Baker Tilly’s Philadelphia Managing Partner and Commercial Practice Leader Fred Massanova said. “Immanuel’s experience as an advisor, auditor, thought leader and community advocate will greatly contribute to the growth and success of our firm in the Philadelphia market.”

John K. is a recognized leader and value architect for the industries and clients he serves. He has authored many articles, frequently speaks at industry events and currently serves as the treasurer of the Philadelphia-Israel Chamber of Commerce.

“The welcome I’ve received from my colleagues at Baker Tilly has been outstanding, and I am excited to enter this next phase of my career,” John K. said. “I look forward to working closely with the Philadelphia team as well as my colleagues across the firm in the life sciences and technology industries to enhance and protect our clients’ value.”

In his previous position at a multinational accounting and consulting firm, John K. led the technology and life sciences industry practice in Philadelphia and the Northeast U.S. for several years. He also served as that firm’s national leader of the software and life sciences industry segments, advising companies on various business issues.

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About Baker Tilly Virchow Krause, LLP (bakertilly.com)

Baker Tilly Virchow Krause, LLP (Baker Tilly) is a leading advisory, tax and assurance firm whose specialized professionals guide clients through an ever-changing business world, helping them win now and anticipate tomorrow. Headquartered in Chicago, Baker Tilly, and its affiliated entities, have operations in North America, South America, Europe, Asia and Australia. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 145 territories, with 34,700 professionals. The combined worldwide revenue of independent member firms is $3.6 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Twitter.

Baker Tilly Virchow Krause, LLP is a member of the Baker Tilly International network, the members of which are separate and independent legal entities. Baker Tilly refers to the global network of accounting firms of Baker Tilly International Limited. Each member firm is a separate legal entity. Baker Tilly International Limited does not provide services to clients.   

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Baker Tilly Expands East Coast Transactions Practice

PHILADELPHIA (March 14, 2017) – Accounting and advisory firm Baker Tilly Virchow Krause, LLP (Baker Tilly) is pleased to announce the addition of two experienced professionals to its growing transaction services practice.

Laura Gitlin joins Baker Tilly with more than 20 years of professional experience providing legal, incentives and location advisory services to private and public sector clients. Prior to joining Baker Tilly, Gitlin served as senior counsel for over 14 years at Biggins Lacy Shapiro & Company, based in Princeton, New Jersey. Working on projects in the Tri-State and Mid-Atlantic regions, she specialized in evaluating, structuring and implementing incentives and financing packages for corporate expansions and relocations, and the development of commercial, residential and mixed use projects. She has also worked closely with economic development organizations on incentives strategies.

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The revenue recognition transition: What emerging growth companies need to know about ASC 606

Authored by Phil Santarelli, CPA, Partner Emeritus, Baker Tilly and Howard J. Heyman, CPA, Partner, Baker Tilly

Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, affects virtually every entity that prepares financial statements. The new standard impacts one of the most important numbers in financial statements — revenue — and could impact key financial ratios, sales, contracts, technology systems, accounting and internal controls. Organizations that prepare financial statements under generally accepted accounting principles (GAAP) must act now.

There are important factors to consider if your organization is considering following GAAP. Even pre-revenue companies should consider whether and how contemplated arrangements with customers might be impacted by ASC 606. Emerging companies must understand this issue to avoid providing guidance that may conflict with the new accounting guidance.

Transition timeline
The new standard is now effective for:

  1. Fiscal years beginning after December 15, 2017, for public companies and certain not-for-profits that have issued conduit debt obligations
  2. Fiscal years beginning after December 15, 2018, for all other entities

For accelerated filers, the revenue recognized during 2016 may need to be restated as part of the transition in 2018.

If an Emerging Growth Company (EGC) as defined in the JOBS Act has made the initial election to defer application of new accounting standards until the effective date for non-issuers, the effective date is 2018. EGCs nearing the end of the five-year deferral window may need to consult with SEC counsel as to the required effective date.

Click here to read the full article.