Over five years after its original issuance, the new accounting lease standard (ASC 842) will become effective for all private companies for fiscal years beginning after December 15, 2021. While we have discussed the financial statement impact of ASC 842 in previous editions of TBC Today, companies should also consider the potential impact on their… [keep reading…]
Tag: ASC 842
Tough Decisions for Business Owners: Renting or Purchasing Your Office or Work Space
A critical decision a business owner may contemplate is whether to rent or own the property for their business. There are many factors to consider in deciding whether to purchase or lease a property, including one that many business owners may not be aware of. One of the biggest advantages to owning a property over… [keep reading…]