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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...
Blog
Read about ASC 842 & other lease accounting topics.
Finance vs Operating Leases: What’s the Difference?
The Financial Accounting Standards Board changed the lease accounting game forever when they declared the ASC 842 new lease accounting standard.
What Does GASB 87 Do? Everything You Need to Know
Lease accounting gets increasingly complicated with each new accounting standard introduced by the Governmental Accounting Standards Board, also...
How Much Time Will You Save with Lease Accounting Software?
When it was time for public companies to implement the new lease accounting standard, many opted for a tool they already know: spreadsheets. Similar...
Don't Delay, Start Preparing for the New Lease Standard Today
The Financial Accounting Standards Board met on November 10, 2021 and decided not to further defer the new lease accounting standard implementation...
Top Takeaways from the FASB’s Recent Lease Standard Activities
Read the original article posted on Accounting Today.
As we wrap up an unpredictable year, let’s explore the Financial Standards Accounting Board...
Recent PCC and SBAC Meeting Takeaways
The Private Company Council (PCC) and the Small Business Advisory Committee (SBAC) recently met and discussed the implementation of ASC 842,...
What is GASB? The Complete Guide
The Governmental Accounting Standards Board, or GASB, was established in 1972 in order to create accounting and reporting standards that foster...
CPA Firm Independence and Technology: Complying with AICPA Guidelines
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...
Lease Accounting Software: Pricing Considerations
How much does lease accounting software cost? As your firm examines the work involved with implementing and maintaining the new lease standard,...
GASB 96: Understanding SBITA
As the apparent need for new accounting guidelines arise, accounting organizations work around the clock to craft rules that address the grumbles of...
FASB proposes another delay for lease standard amid COVID-19 crisis
On Wednesday, April 8, 2020, the Financial Accounting Standards Board (FASB) met to discuss the coronavirus crisis and its impact on upcoming...
Lease Concessions and COVID-19: What You Need to Know
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...
Key Takeaways from the CPAmerica A&A Conference
With the new lease standard implementation date approaching, how are firms helping and encouraging their clients to be prepared in a timely manner?...
FASB Votes Yes on Lease Standard Implementation Delay
As we all expected, the Financial Accounting Standards Board (FASB) voted today that the new lease accounting standard will be delayed for one year...
