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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,...

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,...

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 March 27, 2023:  

The first amendment in this update allows for private and certain not-for-profit entities to use the written terms of the...

One of the trickier aspects of the new lease standard is the concept of embedded leases. Like many components of the new standard, identifying an...

The new lease standard requires you to account for leases differently on your financial statements, which of course includes your general ledger....

When the changes in an accounting standard impact assets or liabilities, we are accustomed to the difference flowing through equity. The new lease...

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...