Recapping the Year in Business
December 22, 2021 | Barton Walter and Krier
And just like that, we’re in the home stretch of 2021. The year seemed to fly by, and along the way your trusted tax professionals at Barton, Walter & Krier provided valuable information on the industry and ways to look out for or further your financial ventures. Recapping the year in business, we’ll look back at the topics we discussed and give a brief overview of each, in case you missed it. Putting Transaction Advisory Services to Work for You The team at BWK provides Transaction Advisory Services (TAS) to help clients make the best and most informed business decisions, be it a buy-side or sell-side transaction. We comb through all aspects of a potential deal – financial, operational, and strategic – to make you aware of the risks and rewards associated with the agreement before determining whether to follow through. Getting the Most with Sell-Side Advisory Services When you’re ready to sell your company, you want to have someone in your corner looking out for your best (financial) interest. That’s where BWK’s Sell-Side Advisors come into play. Our experts will help you prepare for the sale by answering questions about the selling process, evaluating your business’s worth, finding a buyer, and more. Our dedicated advisors help you get the most from the […]
Read MoreAre You Prepared for the New Lease Standard?
December 7, 2021 | admin, Barton Walter and Krier
After many delays, the Accounting Standards Codification (ASC) 842 is set to take effect for private companies. What does that mean for you? We’ll break down the basics to make sure you know what to expect and are prepared for the new lease standard. The New Standard Back in 2016, the Financial Accounting Standards Board (FASB) established ASC 842. The new lease accounting standard requires companies under current Generally Accepted Accounting Principles (GAAP) to recognize assets and liabilities for all leases on their balance sheets. This applies to all operating leases with terms of more than 12 months. Previously, only certain leases – such as capital leases – were required to be reported on the balance sheet. Public companies were required to comply with ASC 842 on reports for the 2019 calendar year. Private companies, however, were afforded a few additional years for compliance. Financial statements for fiscal years beginning after December 15, 2021, must now include the new lease standard. Likewise, this standard is required for inclusion on interim reports for fiscal years starting after December 15, 2022. Why the New Standard? The new lease standard provides transparency for understanding a company’s financial situation based on its balance sheet. Previously, operating leases were not visible, so potential future debt was hidden from […]
Read MoreHelp Ensure Solid Financials
October 18, 2021 | Barton Walter and Krier
When it comes to your financials, you want to make sure your bases are covered. And there’s a lot to consider. To make things easier, the premier accounting and tax specialists at Barton, Walter & Krier offer tips to help ensure solid financials. Financial Framework You got into business to do more than survive – you want to grow and be successful, right? Having a solid financial plan is key to all of this, and managing that plan is just as crucial. Taking charge of finances is at the base of everything you’re hoping to build, and we’re here to help with some of the basics for building a strong financial foundation. Have a Plan Your clear and detailed business plan will keep you focused on success. This plan should outline where you are now, where you want to be in the next couple of years, and how you intend to get there. What does the market look like? What kind of competition will you have? Who will you need to help you? Determine the capital you will need and how you’ll secure it – business loans, angel investors, bootstrapping, grants, etc. How do you plan to attract interest and potential investors? Consider short-and long-term business goals and objectives and note how you […]
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