Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief.

A group of former CPA firm auditors has teamed up to develop LeaseCrunch, lease accounting software that they’re selling through CPA firms to help clients deal with the new FASB standard. Processing ...

In early 2016, the Financial Accounting Standards Board (FASB) issued the most significant change to financial reporting for leases in 40 years. For the first time, most operating leases will be ...

Lease accounting is becoming more complex and detailed for private companies and not-for-profit entities. Business valuations may also be impacted by the new standard. Effective in fiscal years ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Accounting for leases requires lessees to record on their ...

Cathy Clarke, CPA, worries that companies are underestimating the amount of work required to implement FASB’s new lease accounting standard. As chief assurance officer for CliftonLarsonAllen LLP in ...

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 2016, the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued new directives on how issuers should account for and disclose operating ...

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, ...

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 ...

Accounting rules break leases into two classes. When you lease equipment or a building for a relatively short term, you have an operating lease, AccountingTools explains. If you lease long-term or in ...