Simplifying the New Lease Standard |
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Under the new lease accounting standard, ASC 842, private companies are required to adopt for annual financial reporting periods beginning after December 15, 2021, which is 2022 for calendar year-end companies. It’s essential that businesses start planning now if they haven’t already.
We’ve put together a guide to simplify the new lease standard and answer commonly asked questions, including:
- What is the new lease standard?
- When am I required to use the new standard?
- What qualifies as a lease?
- What is the impact of the new lease standard?
- What steps do I need to take?
- How can Kernutt Stokes can help?
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From the Kernutt Stokes Blog |
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Four Key Performance Indicators to Measure Your Company's Performance
by Chad Steinhauer, Senior Associate
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As we get closer to the end of the year, it's time to evaluate your business' success. Senior Associate Chad Steinhauer talks about four key performance indicators (KPIs) to help evaluate your business' performance and start planning for the future in this recent post on the KS Blog. |
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Emerging Business Leaders Forum |
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Our newest event in our Emerging Business Leaders Forum takes place this Thursday, October 28, at 4 pm.
Senior Manager Trever Campbell, CPA, CFE, will discuss fraud in today's economy and what business owners should know.
Future meeting dates and topics include*:
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Thursday, November 18: Understanding Your Business Entity
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Thursday, December 16: Year-End Planning
More details about both topics and registration links coming soon.
Due to the holidays, November and December meetings will be held on the third Thursday of the month instead of the last Thursday of the month.
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Honoring Our Military Connections |
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Veteran's Day is just a couple of weeks away and we thank all those who currently serve, have served in the past, and their families that support them. This year we want to honor the military connections we have within our firm and share what it means to them to have family in the military.. |
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Kaitlyn Coburn
Manager
Wife of First Lieutenant Coburn, USAF
"I feel honored to be a part of serving our Nation. Being a military spouse means being a part of a resilient, proud, and selfless community. We loyally hold down our home bases and make sacrifices so that our loved ones can focus on protecting our country. I am so grateful for Kernutt Stokes and how supportive the firm has been on this journey."
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Josie Fisher
Payroll/HR Administrator
Wife of Sargent Fisher, Ret., USMC
"I am so incredibly proud of Kyle and the legacy he is leaving for our family. I get to see the true sacrifice and just how much it takes to be a part of such an exclusive and brave group of men and women. He has shown resilience and courage throughout his military career. I couldn’t be more honored to share our lives together."
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Kernutt Stokes Joins BDO Alliance USA |
Kernutt Stokes has joined BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting, and service firms with similar client service goals.
As an independent member firm, BDO Alliance USA allows us to:
- Enhance their client services and broaden our capabilities overall;
- Expand their domestic and international coverage;
- Gain greater technical knowledge in specialty areas;
- Utilize professionals with experience in a wide range of industries;
- Access the most up-to-date technical information;
- Participate in the latest training programs; and
- Provide their clients with key business contacts throughout the U.S.
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Kernutt Stokes Partners with LeaseCrunch |
We’re excited to announce our partnership with LeaseCrunch, the easiest lease accounting solution on the market. As we vetted software to help implement the new lease standard, we reviewed numerous options and believe LeaseCrunch is the right choice.
LeaseCrunch will help you streamline adopting ASC 842, IFRS 16, GASB 87, and GASB 96, and offers a simple solution to accessing monthly journal entries, amortization schedules and footnote disclosures. You’ll also have access to the system where you can add, edit, and revise your leases, as necessary. We hope you like this solution as much as we do!
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Learn more about Kernutt Stokes, one of the 100 Best Companies to Work For in Oregon in 2021. Meet our people, experience our innovation, and discover the difference of working with Kernutt Stokes. |
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About Kernutt Stokes
Kernutt Stokes is a full-service accounting and business consulting firm established in 1945 with offices in Eugene, Bend, Corvallis, and Lake Oswego. Named one of the "100 Best Companies to Work For in Oregon," the firm specializes in privately-held and family-owned companies in construction, healthcare, manufacturing, transportation, and professional services. In addition to core accounting services, the firm provides accounting software consulting, 401(k) plan administration, business valuation, retirement planning, business consulting and other services.
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Bend | Corvallis | Eugene | Lake Oswego
541-687-1170
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