The 2016 standard on leases met its objective of providing investors with useful information, but the costs of implementing and maintaining it were high.

Chances are you’ve already tangled with the ASC 842/IFRS 16 changes in standards determining how organizations should be accounting for leases on the balance sheet. The effective date for implementing ...

A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. The Financial Accounting Standards Board’s (FASB’s) new ...

New lease accounting standards coupled with the many pressures brought on by the pandemic have changed how organizations prioritize their leases. Companies are currently reevaluating their lease ...

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, ...

Gathering data is the most complex and time-consuming part of the lease accounting compliance journey. Gathering data is the most complex and time-consuming part of the lease accounting compliance ...

Joe Purvis, CPA, has taken a different tone with his not-for-profit clients this year with respect to lease accounting. For the past several years, each time Purvis’s not-for-profit clients have asked ...

As we enter the final months of 2022, accounting departments should feel like they are crossing a new finish line. This year, many private companies had to adopt ASC 842, an accounting standard ...

CFOs are finding the scrutiny of new accounting rules is helping them streamline their lease management and save money, but there are challenges. Despite being given three full years to prepare for ...

It’s been more than a year since the pandemic began, and while the vaccine rollout is reason for optimism, many organizations will be dealing with financial fallout for the foreseeable future. While ...

The Financial Accounting Standards Board has given U.S. private companies and nonprofits another year to start treating their operating leases as liabilities on their balance sheets. Now they have to ...