You can’t buy love...
DIVERSITY AND INCLUSION |
Ah…Valentine’s Day…a time to think about lease accounting?!? It is for this accountant.
As I watched (for the 100th time at least) the Broadway musical, RENT, and heard the lyrics, “I think they meant it When they said you can't buy love Now I know you can rent it. A new lease, you are my love on life, be my life”, I realized just how deep my accounting identity runs. All I could think was, “How will that ‘lease of love’ be valued under ASC 842, Leases, when it takes effect for private companies with year-ends ending after December 15, 2020? How should we determine the fair value of the love lease liability and asset?” (This is “accounting speak” for those of you non-accountants who might be reading this post.)
I am grateful that my CPA wife appreciates that accounting permeates our lives. In the flavor of RENT, we measure each year in debits, in credits, in midnights, in cups of coffee, in excel, in returns, in audits, in daylight... I am grateful to be at RSM, a firm that’s focused on inclusion for ALL of its 11,000+ people nationwide, even those that identify as CPAs. All year long, here at RSM, our 11 employee-led employee network groups (ENGs) lead the charge in terms of educating our people about the unique differences and perspectives that we each bring to the table and, ensuring that our teams measure each day in love. As national leader of our Pride ENG, I get to see first-hand how accepting and understanding our people are of each other – embracing our differences and embracing how nerdy some of us are about GAAP (Generally Accepted Accounting Principles, for those not in the profession).
On this Valentine’s day, celebrate your identity! Be your authentic self. On behalf of our Pride ENG and the rest of our 11,000 people in 87 offices nationwide and in Canada, have a unique and Happy Valentine’s Day!
Partner, Southeast Private Equity Leader, National Pride Employee Network Group Leader, Proud CPA and RENT super fan
Pride supports LGBT+ employees, clients and allies through recruitment, retention and business activity alignment with LGBT+ organizations.