| MSC is a consulting firm specializing in
crisis management for troubled companies, forensic accounting,
internal management accounting, controls, and MIS systems.
Our staff of professionals is comprised mainly of Certified
Public Accountants, many of them with Big Five accounting
experience, and other financial, MIS and CAS experts.
MSC was formed to fill a void in the business environment.
We have found that many businesses do not have either the
personnel or the resources to provide management with the
information needed to quickly respond to changes in economic
conditions. As forensic consultants, MSC uses its knowledge
base of operations, accounting, and systems to accurately
recreate and interpret historical financial information.
MSC has provided services to financial institutions, public
corporations and privately held corporations in a variety
of industry areas. We have an excellent track record and are
recommended by major accounting firms, banks and law firms
to provide a cost effective solution for their clients.
PRINCIPAL PROFILE
David Mandelbaum CPA Co-Founder - David
graduated Magna Cum Laude from Touro College in the early
'80s with a B.S. in Accounting and received his C.P.A. license.
David served in public accounting with a number of mid-size
firms and started his own successful practice in 1989. He
is an expert in MIS, computerized accounting techniques, financial
data analysis, financial business plan and projection analysis
and creation. His client base consisted of national fast food
franchises, electronic equipment distributors, labor unions,
real estate developers, apparel industry, manufacturing and
insurance industry accounts. He has represented clients before
the New York State Sales Tax Authority audit division and
forensically accounted for a number of years of activity to
the satisfaction of the State authority. Over the years he
has conducted various seminars on financial accounting and
tax issues. He founded MSC in 1993 with Barry Sorrentino.
David is married with 3 children and is a member of the NYSSCPA.
Barry Sorrentino Co-Founder – Barry
graduated from Pace University in the late '70s with a Bachelor
of Business Administration majoring in Accounting. He was
controller of Collectors' Guild International Inc., a direct
mail / manufacturer with sales in the eight figure range,
from 1975 through 1980 and was instrumental in taking the
company public. He then became the Chief Financial Officer,
from 1981 through 1992, of APF Holdings Inc., an affiliate
of Collectors’ Guild International Inc. He created a
computerized cash flow reporting system, which enabled the
company to receive a new asset based loan at half the previous
cost. Barry has dealt with major banks and finance companies
to create financing opportunities. His extensive background
included a strong emphasis on operational management, cash
flow management and controls. He founded MSC in 1993 with
David Mandelbaum. Barry is married with 3 children and is
a member of numerous credit and financial industry associations.
Key Personnel Profile
Robert (Bob) Moss, Director of Business Development
- Bob graduated from Pace University. He has spent over 30
years in management positions in a variety of industries including
banking, factoring, consulting and manufacturing. Bob's varied
background is both in credit, accounts receivable and business
development. He was a senior credit officer for a large international
bank and was responsible for all workouts, director of credit
for a fortune 1000 company and a credit executive in the factoring
industry. Bob had his own consulting business for several
years and most recently was business development manager for
a large national accounts receivable and chargeback company.
Bob has extensive experience in most consumer product industries,
importing and trade finance. He has done many presentations
and speaking engagements on chargebacks and accounts receivable
management before banks and accounting firms as well as various
groups including the NYSSCPA'S and New York Institute of Credit
( for CPE credit for CPA's).
Conrad J. Isoldi, Director of Strategic Solutions – Conrad is a graduate of Bernard Baruch College. He has spent over 40 years in key management positions in both financial and non-financial organizations addressing, defining and implementing key strategies, which have enhanced the profitability, operating efficiency and overall control of the assets of the business segment. As Sector Controller of the Retail Banking component of a large commercial bank, Conrad played a key role in the establishment and growth of that business into one of the most profitable, well controlled and managed business segments of that organization. Financial procedures and disciplines were implemented within an established strategic framework. The profitability of all business units were determined, analyzed and measured against budgets developed on a monthly basis. This provided management the ability to take necessary actions at the appropriate time (exit business, stay and grow, reduce future capital allocations, etc). Management was given the tools required to know quickly where the business challenges were, the impact on profitability and what decisions needed to be made.
Subsequent responsibilities at other financial and non financial entities focused on streamlining and shortening the month end closing process, the establishment of an integrated strategic and profit planning process, operational reengineering, performance measurement, acquisition integration, cost containment, technology upgrades, evaluation of best practices, monthly management reporting geared to effective decision making, etc. In all cases, a close working relationship was established with both the internal and external auditors as well as the appropriate regulators to “avoid surprises”. Conrad has demonstrated ability to work directly and closely with client management to define the challenges they are concerned with, offer and assist in the implementation of “Time is of the essence” solution/s to increase and maximize entity profitability and shareholder value.
Kenneth S. (Ken) Johnson, General Manager Collateral
Audit – Ken, graduated from Pace University
with a BA in Accounting and Economics, and earned his MBA
from Fordham University. A CPA with over 25 years of diverse
experience, Ken served in financial management positions with
several Fortune 500 and entrepreneurial organizations prior
to joining with MSC. He has supervised, reviewed and conducted
numerous collateral examinations for banking and other clients
lending under factored or asset-based credit facilities. Ken has lectured for the American Management Association,
is a member of the AICPA, NYSS of CPAs, the Institute of Management
Accountants, and the Center for Entrepreneurial Management.
Stephen C. O’Donnell, Director - Steve
has been in executive management for over 14 years in the
positions of Plant Controller, Director of Finance, Chief
Financial Officer, Chief Operating Officer, President and
Chief Executive Officer. Steve has experience in both the
for-profit and non-profit sectors. The for-profit sectors
include the defense, manufacturing, retail and the internet
industries. The non-profit sector includes the areas of housing,
human services, criminal rehabilitation and mental health.
Steve has been very successful with bankruptcy recoveries,
turnarounds and crisis management, as well as fraud and embezzlement
investigations. He is a graduate of Manhattan College and
received his Masters in Business Administration from Dowling
College. Steve is a member of the Institute of Management
Accountants (IMA) with over twenty-five years of business
experience encompassing consulting, program management, cash
management, financial analysis, general accounting, and budgeting.
Louis A. Festa - Senior Consultant - Lou graduated from Long Island University in 1979 with a Bachelor of Science in Accounting. He is a seasoned financial executive with over 30 year’s experience. He has worked for both public and private companies. Lou began his career in Advertising. His talents were quickly recognized and he was asked to join the worlds leading television syndicator. He was part of a financial and business team that helped achieve a successful LBO. Lou has worked to bring about several acquisitions and negotiated lines of credit in excess of $100M. He was a key member of the team responsible for the acquisition of public company. He was responsible for relocating the world’s largest independent producers from New York to Los Angeles. Lou has held various financial positions including Controller, Chief Accounting Officer of a public company and has been a Chief Financial Officer for the past 12 years, for 10 of those years he was the CFO of the world’s largest independent production companies. Through his career he has acquired and sold many businesses, negotiated several loans, lines of credit and was involved in several Mergers and Acquisitions. He has run several businesses. While he was CFO he also functioned as a COO, CEO. Lou is a Board Member and Treasure of a New York City based charity. He is married and has one child.
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