Skip to Content Skip to Navigation

Blogs

Lease Accounting Software Buyer's Guide


With the issuance of the new ASC 842 lease accounting standard (ASU 2016-02), most companies are finding their existing ERP or accounting system has not yet been updated to track and calculate the required information. This has created a need to select a niche piece of software to perform the new calculations and generate the required general ledger updates and disclosure reports. ...


Mastering Business Intelligence


Big Data and Business Intelligence have been hot topics for many years and there have been significant advances in these areas. But many businesses don’t realize that constant changes in people, processes, systems, and data can introduce significant errors in reporting, including implementations and data sets that were previously accurate. ...


S. Michelle Cox, PhD: Deliver Better Products and Services to Customers Through Process Improvement


Pat English, of Credit Human, in San Antonio, Texas asked me to speak at the Credit Professionals International conference. Pat has seen examples of the work that Aventine Hill Partners (AHP) offers through our Process Improvement Practice in which I have led engagements as Senior Consultant. Our team of experienced professionals offers training, coaching, and project management or execution. ...


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. ...


Jens Mielke: Revenue Recognition Lessons Learned (So Far)


In my first blog on the topic of the new Revenue Recognition guidance, I shared an overview of what ASU 2014-09 covers and some thoughts around how it will impact companies. Since then, Aventine Hill's Technical Accounting team has been engaged by clients to assist with their initial assessment and adoption process. While still early, some “lessons learned” can be shared to help others who are about to begin the process. As the old advertising saying goes, “your results may vary.” So too may your experiences with Revenue Recognition. Every company is different and even companies in the same industry may have different outcomes. ...


Jens Mielke: New Revenue Recognition Rules Coming to a Board Meeting Near You


May 28, 2014 was a milestone day in accounting history. The Financial Accounting Standards Board and the International Accounting Standards Board issued the first converged accounting standard – Accounting Standard Update 2014-09 – Revenue from Contracts with Customers (Topic 606). ASU 2014-09 replaces hundreds of pages of existing revenue accounting guidance, much of which represents layers of detailed ad hoc industry-specific rules, with one principles-based standard. Since revenue usually (hopefully!) is the largest number on a company’s income statement, this new standard is slowing getting the respect it deserves. The impacts will reach beyond the accounting department. Ultimately, investors will see changes in quarterly revenue and employees will see changes in pay that is tied to company performance.  ...


Michelle Cox: Personal Productivity Lessons from Nick Burgett


I recently interviewed Nick Burgett about his speech to the Alamo Chapter of PMI (see link for event overview). I have known Nick for many years and find him to be a great trainer, leader, and engineer. Since we are all faced with productivity issues, PMI asked Nick to speak on this timely issue. Nick was gracious enough to sit down for an extended conversation that I am happy to share here. Here is a link to the event at which he spoke. ...


Back To Top