Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

With the new Financial Accounting Standards Board (FASB) lease accounting standard — Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), many companies are grappling with the transition ...

Shifting application from an individual lease to a portfolio level offers practicality and cost minimization for companies adopting FASB’s new lease accounting standard. Here are tips for applying a ...

Businesses are downsizing their office space and renegotiating leases as employees work from home, and they need to look at how they’re accounting for the leases under the new rules. Processing ...

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 ...

Leasing is an integral part of the everyday activity of most businesses. A business may lease its premises consisting of offices, factories and warehouses. Additionally businesses often lease other ...

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 ...

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 ...

Leasing is an important activity for many organizations. Under existing accounting standards, a majority of leases are not reported on a lessee’s balance sheet. The amounts involved can be substantial ...

In February 2016, the Financial Accounting Standards Board issued an update known as ASC 842 that, among other changes, brings most leases onto the balance sheet. Now, all of a company’s operating ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. With the lease accounting standard changes from the U.S ...