What Is ASC 842? The Ultimate Guide
What is ASC 842 Summary?
The ASC 842 standard for GAAP lease accounting requires all leases longer than 12 months to be recorded as assets and...
Read about ASC 842 & other lease accounting topics.
The ASC 842 standard for GAAP lease accounting requires all leases longer than 12 months to be recorded as assets and...
The Financial Accounting Standards Board changed the lease accounting game forever when they declared the ASC 842 new lease accounting standard.
Lease accounting gets increasingly complicated with each new accounting standard introduced by the Governmental Accounting Standards Board, also...
When it was time for public companies to implement the new lease accounting standard, many opted for a tool they already know: spreadsheets. Similar...
The Financial Accounting Standards Board met on November 10, 2021 and decided not to further defer the new lease accounting standard implementation...
Read the original article posted on Accounting Today.
As we wrap up an unpredictable year, let’s explore the Financial Standards Accounting Board...
The Private Company Council (PCC) and the Small Business Advisory Committee (SBAC) recently met and discussed the implementation of ASC 842,...
The Governmental Accounting Standards Board, or GASB, was established in 1972 in order to create accounting and reporting standards that foster...
When a CPA firm attests to the accuracy of a client’s financial statements, maintaining independence is important to assure the firm was not unduly...
How much does lease accounting software cost? As your firm examines the work involved with implementing and maintaining the new lease standard,...
As the apparent need for new accounting guidelines arise, accounting organizations work around the clock to craft rules that address the grumbles of...
On Wednesday, April 8, 2020, the Financial Accounting Standards Board (FASB) met to discuss the coronavirus crisis and its impact on upcoming...
Since the outbreak of the COVID-19 pandemic in March 2020, CPA firms are seeing a large increase in the number of clients asking about lease...
With the new lease standard implementation date approaching, how are firms helping and encouraging their clients to be prepared in a timely manner?...
As we all expected, the Financial Accounting Standards Board (FASB) voted today that the new lease accounting standard will be delayed for one year...