Sometimes the most powerful insights come in the smallest packages, or in this case shortest interviews.
This morning on the PI Window on Business I had the opportunity to talk briefly with subject matter expert Michael VanderGoot CPA, who is a Senior Compliance Officer at BC Compliance Group, LLC about the IFRS move towards establishing a lease capitalization standard worldwide.
While I will leave it to you to tune into this special 15-minute segment, the key takeaway is that businesses – especially small-medium enterprises, have to on a proactive basis get ahead of the curve as it relates to the finance ratios that impact bank loans and operating lines of credits. In short, don’t be caught unprepared and know where your bank stands on your adjusted ratios.
In the meantime, and as a result of the IFRS move, the concept of Supply Chain Finance has taken on an added dimension of importance. We will talk about this subject in an upcoming post.
Michael VanderGoot, CPA:
Michael VanderGoot CPA is a Senior Compliance Officer at BC Compliance Group, LLC (“BCC”). He has worked in the real estate accounting and compliance field since 1994. During that tenure he has been a hands-on Controller and Operating Officer for several real estate companies ranging from a start up developer to a mature multinational developer, owner and property manager. The accounting experience included General Ledger reconciliations, year-end Operating Expense reconciliation billings as detailed in each lease, and issuing the financial statements to the auditors and lenders per the terms of the loan covenants.
Use the following link to connect with Michael via his LinkedIn Profile; http://www.linkedin.com/in/michaelvandergoot