Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

Businesses are downsizing their office space and renegotiating leases as employees work from home, and they need to look at how they’re accounting for the leases under the new rules. Processing ...

Shifting application from an individual lease to a portfolio level offers practicality and cost minimization for companies adopting FASB’s new lease accounting standard. Here are tips for applying a ...

With the new Financial Accounting Standards Board (FASB) lease accounting standard — Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), many companies are grappling with the transition ...

With calendar year-end Form 10-K filings almost completed, you may have noticed the addition of Accounting Standards Update No. 2016-02 “Leases (Subtopic 842)” to the MD&A subsection addressing new ...

Any business that leases anything for an extended period of time — generally, more than one year — will be impacted by a proposed new accounting standard. “This may appear arcane to some, but the new ...

As firms continue to operationalize ASC 842, many of the most challenging issues are no longer about basic implementation, but about the “fine print” decisions that drive ongoing compliance and audit ...

Certain private companies, nonprofits, and tax-exempt organizations that lease equipment have been given an important advantage in implementing new accounting rules—more time. The Financial Accounting ...

You may have heard about a proposal that would change how leases are accounted for on corporate balance sheets. If your company leases or finances equipment, you should be aware of how the proposal ...