We assist companies with IPOs, technical accounting, and SEC Reporting. Our name, Nextstep, signifies that next great milestone in the lifecycle of a business. Our mission is to make our clients look great and provide our employees with a great working environment and platform for incredible growth.

Our No Bullsh*t Promise

We promise to do what we say; to be fair and transparent in all of our dealings; and to immediately and openly face any issues.

Our People

We are technical accountants with a vast collection of IPO experiences. These experiences, combined with hundreds of technical accounting memos under our belts and a shared commitment to excellence, are why our hard-working professionals have the ability and the passion to provide both high-quality, efficiently produced deliverables and exceptional client service.

Our Services

Our commitment to ourselves and our clients is to only take engagements we know we will be great. We do this by being honest as to our availability to ensure that we are not biting off more than we can chew. We do this because we love making our clients look good. At the end of every engagement, we seek the ultimate praise of, “That was outstanding – thank you.”

Nextstep Testimonial


Our IPO services primarily consist of drafting the S-1 and F-pages, preparation of quarterly financial statements, and responding to SEC comments. More specifically, we can:

  • Draft public company financial statements and footnotes to be included in a Form S-1.
  • Draft MD&A including the results of operations, key metrics, opportunities and challenges, liquidity, quarterly results, and critical accounting policies including cheap stock.
  • Draft all other financial sections of S-1 including the summary (Box) data, selected data, use of proceeds, capitalization, and dilution.
  • Assist with preparation of S-1 and F-page tie-out binder.
  • Assist with quarterization of annual financial information.
  • Draft SAS 100 compliant quarterly financials.
  • Develop IPO roadmap and project plan.
  • Assist with the SEC comment letter responses.
  • Assist with technical accounting and audit support in advance of, during, and following the IPO.
  • Assist with technical accounting and SEC reporting in quarters following IPO.

Technical Accounting

Our technical accounting services primarily consist of researching, analyzing, and documenting the accounting implications and conclusions of complex business transactions. More specifically, we can:

  • Assist with research and analysis of technical accounting issues related to complex business transactions including, but not limited to, stock-based compensation arrangements, complex debt transactions, complex equity transactions including preferred stock and warrant issuances, revenue recognition, business combinations and consolidation, divestitures, segments, EPS, foreign exchange matters, leases, and asset impairments.
  • Draft technical accounting memorandums.
  • Assist with transition and implementation of the new revenue guidance under ASC 606.
  • Assist with M&A transactions, including opening balance sheet, purchase price allocation, and Rule 3-05 financial statements.
  • Assist with other complex events such as restatements, spin-offs, and divestitures.

SEC Reporting

Our SEC Reporting services primarily consist of assisting with the financial close process and drafting quarterly and annual SEC filings. More specifically, we can:

  • Draft required SEC filings including, but not limited to, Form 10-K, Form 10-Q, and Form 8-K.
  • Assist with technical accounting and audit support.
  • Assist with analysis and implementation of Accounting Standards Updates (ASUs).
  • Assist with EDGAR and XBRL disclosure process.
  • Ensure compliance with regulatory requirements as set by GAAP, SEC, FASB, and Sarbanes-Oxley.
  • Assist with Sarbanes-Oxley Act (SOX) requirements including SOX 302 and 906 certification.
IPO Technical Accounting SEC Reporting
Nextstep provides consulting services and is not certified as an accounting firm by the State of California.

Nextstep in the News

Will Spotify go public without an IPO?

TechCrunch | By Katie Roof on April 7, 2017

The Wall Street Journal wrote a story that Spotify is “seriously considering” joining the stock market without an IPO. The news was also reported by Mergermarket. The idea would be to go public without the fundraising event; instead, employees and venture capitalists would sell their shares to investors directly.

We are hearing that the plans have not been finalized, but Spotify is open to taking an unusual approach. If they opt to do the “direct listing” described by the WSJ, they would avoid paying fees to the underwriting banks and prevent further share dilution.

They could also avoid the classic “leave money on the table” scenario, where institutional investors and the other high net worth individuals who have access to IPOs reap all the benefits from the first day’s gains. Banks generally recommend that the company “pops,” by trading up 20 percent or so on the first day, but that also means the company could have sold their shares for more.

Contact Us

1290 Howard Avenue, Suite 320
Burlingame, CA 94010
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For Inquiries:

Call: 650.242.1032
Email: info@nextstepadvisory.com