The Financial Accounting Standards Board (FASB)  issued the report on Post-Implementation Review: Leases (Topic 842). The Post-Implementation Review (PIR) process is an important quality ...

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

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 Salvor is capable of lifting objects weighing up to 300 tons off the seafloor, according to Navy documents. The maximum ...

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 ...

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, ...

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 ...

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 ...

Last year, the Financial Accounting Standards Board (FASB) announced new lease accounting rules that require all leases to be on corporate balance sheets. To date, the FASB has yet to circulate the ...

Any business that leases anything for an extended period of time — generally, more than one year — will be impacted by a proposed new accounting standard. “This may appear arcane to some, but the new ...

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 ...

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 ...