The New Lease Accounting Standard (ASC 842)

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Background Leasing is widely use to address a variety of business needs, from short-term asset use to long-term asset financing.  Sometimes leasing is the only option available to obtain the use of a physical asset (such as office space).  Leasing transactions today represent over $1.4 trillion in off balance sheet financing.  Because of its magnitude,… Read more »

Enterprise Performance Management (EPM) through Business Planning and Analysis

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Driving business performance in today’s complex and volatile environment presents unique challenges for senior management, in general, and for corporate finance in particular. Because it is a rapidly evolving environment, there’s also increasing demand for finance leaders to lead business strategy in real time, a shift towards performance insight and higher value placed on an… Read more »

New Demands on Compliance and Controls

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Quality Assurance: A Necessary Ingredient for Internal Control Management’s ability to fulfill its financial reporting responsibilities often depends on the design and effectiveness of the processes and safeguards it has put in place over accounting. While no control system can absolutely assure that financial reports will never contain material errors or misstatements, companies must discuss… Read more »

Revenue Recognition Follow Up Summary

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In January 2018, the new revenue recognition standard (Update No. 2014-09; ASC 606) takes effect. The standard has broad implications and may affect many parts of your organization: financial statements, business processes, taxes, and internal controls over financial reporting. It requires the collaborative efforts of multiple departments within the company, including financial reporting, IT, sales,… Read more »