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Updated on April 10, 2023: The first amendment in this update allows for private and certain not-for-profit entities to use the written terms of the...

Written by Ane Ohm on Tuesday, August 6, 2019 It’s been a couple of weeks since the FASB announced its decision to potentially delay the...

FASB’s proposal to once again delay implementation of the new lease standard by one year for non-public companies brought some relief amid the...

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...

On Wednesday, April 8, 2020, the Financial Accounting Standards Board (FASB) met to discuss the coronavirus crisis and its impact on upcoming...

As we all expected, the Financial Accounting Standards Board (FASB) voted today that the new lease accounting standard will be delayed for one year...

Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...

Important note: This is a judgment-based standard, which means there are few hard-and-fast rules and the treatment of your leases will depend on your...

Not all costs related to a lease are included in the leased asset and liability. For example, a contract may include both a truck and operation of...

The new lease standard is coming and preparation is critical for a smooth implementation. This is easier said than done and the experts agree: this...

The new U.S. lease standard, ASC 842, is required for public companies starting their fiscal year after Dec. 15, 2018, for public non-profits...