From: Bryan Porter
Business executives are turning to their CFO and accounting department for guidance on implementation details for the new leasing standard (effective calendar year 2020 for privately held companies). Invariably, the idea of revisiting the business strategy on deciding between leasing or purchasing will enter the discussion. This article hits high-level considerations to start the conversion. Don’t forget to also consider tax implications on the business and business owners as you decide the best economic choice for your company. Click here to read the article on the Bloomberg Accounting Blog
BRYAN C. PORTER, CPA, is a Director in the Audit, Accounting and Consulting Department of Ellin & Tucker in Baltimore, MD, where he advises privately held businesses in various industries including manufacturing, wholesale distribution, construction, technology and not-for-profit. Bryan is also a member of the firm’s Audit and Accounting Technical Standards Committee, which oversees programs designed to educate the firm and its clients on current accounting and business topics. Bryan can be reached at email@example.com.