The world’s premier treasury consultant firm provides OmniSource with innovative and efficient accounting solutions
South Salem, NY -- (SBWIRE) -- 06/04/2013 -- The Ledgewood Advisory Group is pleased to announce the completion of hedge accounting implementation for one of North America's largest processors and distributors of scrap and secondary metals, OmniSource.
The Ledgewood Group was able to overcome a number of complexities that are inherent within the scrap metal industry, and by addressing these unique challenges, Ledgewood helped OmniSource meet a variety of intricate requirements. Additionally, the Ledgewood Group was able to work with the vendor that provides the hedge accounting software to OmniSource to refine their financial processes even further.
“OmniSource is the best in metal recycling and we were able to implement commodity hedge accounting” said a representative for Ledgewood. “We were able to effectively improve OmniSource’s financial reporting with the implementation of hedge accounting. We helped trained the team, create the RFP and assist with the software selection.”
OmniSource collects, processes and resells ferrous and nonferrous scraps, and operates over 70 U.S. scrap collection and processing facilities. Additionally, the company possesses the ability to process seven million tons of ferrous scrap each year and more than one billion pounds of nonferrous scraps each year.
The Ledgewood Group is a worldwide provider of unparalleled hedge accounting services. The advisors at Ledgewood are senior level consultants within the industries of accounting, technology and treasury. Each advisory has immense experience working with a variety of organizations, including financial institutions, multinational corporations and software vendors.
The treasury consultants that help implement hedge accounting solutions are able to effectively bridge the gap between business and technology, in order to reduce the time it talks to implement and complete the project.
About Ledgewood Advisory Group
The Ledgewood Advisory Group has offices in New York, London and Hong Kong, and services organizations of every level, including multinational corporations, by advising on treasury issues such as cash management, risk management and hedge accounting. Ledgewood takes a unique five-step approach to treasury optimization that starts with a best practices analysis and concludes with solution design The company can be reached by visiting their website at http://www.ledgewoodgroup.com/.