With the lease accounting standard changes from the U.S. Financial Accounting Standards Board (FASB) and The International Accounting Standards Board (IASB), there will be a growing responsibility ...

The Financial Accounting Standards Board’s (FASB’s) new lease accounting standard will become effective for private companies and not-for-profits beginning with fiscal years that start after ...

GASB 87 refers to the Governmental Accounting Standards Board’s Statement No. 87, Leases, which is the new lease accounting standard for public sector entities in the United States.

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 ...

Leases Included In ASC 842 The new requirements impact operating leases primarily. These leases include those for office buildings, warehouses, retail space, equipment and more.

According to the Financial Accounting Standards Board, which issued the Accounting Standards Update on leases in 2016, this change affects all companies and other organizations that lease assets ...

The operating lease allows a business to keep from recording the asset on its balance sheet. This type of arrangement is known as off-balance sheet financing, per the Accounting Tools website.

Companies are expanding their budgets to accommodate the new lease accounting standard, turning to interim solutions, temporary employees and outside consultants, with many of them expecting to spend ...

U.S. and international accounting-rule makers are edging closer to completing a decadelong effort to overhaul lease accounting rules. The rules, which could be issued next year, threaten to bring ...

New accounting rules are changing the way businesses go about disclosing lease activity in their financial statements. Under ASC 842, which takes effect for publicly traded companies in 2019 and ...

With calendar year-end Form 10-K filings almost completed, you may have noticed the addition of Accounting Standards Update No. 2016-02 “Leases (Subtopic 842)” to the MD&A subsection ...

New lease accounting rules have resulted in potentially misleading data feeds, inconsistent financial reporting and other discrepancies that could confuse and misinform investors, Credit Suisse ...