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 ...

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 ...

On May 10, the Financial Accounting Standards Board and the International Accounting Standards Board issued revised exposure drafts calling for significant changes in lease accounting. These drafts ...

The International Accounting Standards Board issued the long-awaited lease accounting standard that it has been developing for over a decade with the Financial Accounting Standards Board, which is ...

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 ...

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, ...

On August 17, the FASB and IASB released the final version of the exposure draft on lease accounting that significantly changes the way entities account for leases. Their exposure draft, Leases, ...

The University must adopt a new accounting standard (Accounting Standards Codification 842 – Lease Accounting) for leases in FY20. The new lease accounting standard requires all operating leases ...

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 ...

Amrita Choudhary is a Chartered Accountant and experienced finance leader driving AI adoption in finance space. Finance teams worldwide are grappling with the complex demands of new lease accounting ...

Retained earnings is an equity account on a company's balance sheet that comprises its cumulative, undistributed earnings. When a company's books are closed at the end of its fiscal year, an ...