Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private ...

In early 2020, the COVID-19 pandemic added another element of business disruption for organizations to manage while the effective dates to comply for FASB’s new lease accounting standards were quickly ...

The implementation deadline for the new IFRS 16/ASC 842 lease accounting standards is rapidly approaching. The new standards will require organizations to report and disclose all lease obligations for ...

The recent leasing rules from the Financial Accounting Standards Board and the Governmental Accounting Standards Board are turning out to be harder to follow than many organizations expected. Not only ...

You may have heard about a proposal that would change how leases are accounted for on corporate balance sheets. If your company leases or finances equipment, you should be aware of how the proposal ...

In February 2016, FASB issued new lease accounting requirements in Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Under its core principle, a lessee recognizes a right-of-use (ROU) ...

Implementation of the new lease accounting standard has led to average balance sheet lease liability increases of 1,475 percent, according to new research from lease accounting technology provider, ...

Proposed lease accounting rules could have a serious impact on businesses that have significant leasing activities. A draft standard for lease accounting developed by the U.S. Financial Accounting ...

Rochester Institute of Technology adopted the Financial Accounting Standards Board (FASB) new accounting guidance on leases FASB Accounting Standards Codification Section 842 ("ASC 842") on July 1, ...

Lease accounting, in which companies rent out or "lease" factories, buildings or equipment instead of buying them outright, is fast becoming the most troublesome area of accounting Accounting watchdog ...