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Balance Sheets + $2 Trillion = New Lease Standard

In February, the Financial Accounting Standards Board issued Accounting Standards Update 2016-02 – Leases (Topic 842). This Update replaces 40 years of lease accounting rules with principles-based guidance. While ASC 842 started its life over 10 years ago as a converged project between the FASB and the International Accounting Standards Board, there is a key difference between the two…more on that later. But they do share one main feature: almost all leases will now be accounted for on the balance sheet. By some estimates, this will mean an additional $2 trillion on U.S. balance sheets. ...

Casey Hall: GAMMA Shares Lessons Learned for Selling a Business

Owners of successful small to mid-size businesses will be faced at some point with deciding whether to sell their company. Many will not have experience at navigating the process. The Greater Austin Mid-Market Alliance (GAMMA) focused its May quarterly meeting on providing practical advice to business owners on what is involved in successfully selling their company. Aventine Hill was honored again to sponsor the event. Beth Hair, John Romero, and I attended.  ...

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