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Goering Center news: Lease standard impacts small business

Tue, May 7, 2019

The Financial Accounting Standards Board (FASB) is changing the way businesses prepare their financial statements and the way companies account for leases. The FASB first introduced guidance on these changes in February 2016 and the required implementation date for non-public entities is quickly approaching. No matter the size of your privately held company, ASU 2016-02, Leases, could have a significant impact on your financial statements.

Goering Center news: Family business or business family?

Tue, May 7, 2019

If you think about the focus of the Goering Center, what comes to mind? I’m finding out more and more that the answer for many people is “family business.” It’s easy to draw that association. So many family-owned businesses that are now considered icons in the greater Cincinnati community have been part of the Goering Center story. We have transformed — and sometimes salvaged — many multi-generational family businesses. Yet, we are the Goering Center for Family and Private Business. Private businesses are very much a part of our work. They represent half of the awards at our Family and Private Business Awards event, the majority of our programs cater to the needs of private as well as family businesses, and our boards and committees are blessed with many private business owners.

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