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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...

Your clients are hopefully well aware that implementation of the new lease standard is just around the corner. However, some of your clients may have...

The new lease standard is a complex one, with many complicated factors involved in making the transition. While some corporations have opted to use...

The new lease standard is more complicated than companies expect and therefore often underestimated. Because of this, we are seeing some unfortunate...

As a CPA, you know the importance of maintaining independence while working with your clients. At the same time, your clients rely on you for...

Leases inherently require two parties in order to exist. One party leases their asset/assets to the other, and a lease is signed as a contractual...

The footnote disclosure for the new lease standard enables financial statement users to assess the amount and timing of cash flows arising from...

When changes to accounting standards impact assets and liabilities, we are accustomed to also adjusting equity. However, the new lease accounting...

While embedded leases are not a new concept in accounting, they are now receiving a lot more attention. In the past, operating leases weren’t...

As discussion and concern around implementing the new lease standard increased this year, there was much to be said about the readiness (or lack...

I get it: the 2021 audit season is probably the craziest busy season your CPA firm has ever seen. 

When it was time for public companies to implement the new lease accounting standard, many opted for a tool they already know: spreadsheets. Similar...