With the first year of the new lease accounting standards implementation complete, organizations find themselves at a critical juncture — the commencement of "day two" accounting. While the initial ...

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 ...

Joe Purvis, CPA, has taken a different tone with his not-for-profit clients this year with respect to lease accounting. For the past several years, each time Purvis’s not-for-profit clients have asked ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. The Financial Accounting Standards Board’s (FASB’s) new ...

In December, new accounting standards for reporting leases are scheduled to go into effect. The intention: To more accurately portray leases’ implications for a company’s financial health. Under the ...

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, ...

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 ...

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 ...

In 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases. This new lease accounting standard (ASC 842) significantly impacts how private and ...

Last year, the Governmental Accounting Standards Board (GASB) voted to defer the effective date of lease accounting standard GASB 87 to give public sector entities more time to adapt to the many ...

This report is one of a series on the adjustments we make to convert GAAP data to economic earnings. Reported earnings don’t tell the whole story of a company’s profits. They are based on ...