Rev Rec (Wreck?) and Other Changes for Startup Companies
The accounting world has been keeping pretty busy. While most of the noteworthy news revolves around the new revenue recognition standard ASU 2014-09, the latest standards released by the Private Company Council (PCC) to address the unique needs of the users and preparers of private company financial statements are not too far behind. (more…)
By Jeff Faust, Director of Valuation Services
As business owners approach the age of retirement, it is essential to understand the value of their business in order to plan for their exit. Will you simply close the doors, sell to a third party, gift to another family member, sell to another family member or sell to your (key) employees? In any case, knowing what you may receive for your business will help decide the route you want to go.
San Jose, Calif. – September 30, 2014 – Managing Principal Ray Scheaffer of Abbott, Stringham & Lynch (ASL), a Silicon Valley accounting and consulting firm, announced that Jeff Faust with his colleagues Irina Plevako and Chris Bitter formerly with the accounting firm Berger Lewis, have joined ASL. “Jeff, Irina and Chris enhance our firm’s practice by now offering valuation services to our clients. We welcome them as part of an overall plan to position the firm for growth.” The addition of Faust, Plevako and Bitter brings the firm’s total personnel to 76.