With the first year of the new lease accounting standards implementation complete, organizations find themselves at a critical juncture — the commencement of "day two" accounting. While the initial ...

It’s been more than a year since the pandemic began, and while the vaccine rollout is reason for optimism, many organizations will be dealing with financial fallout for the foreseeable future. While ...

The Financial Accounting Standards Board’s new lease-accounting standard, ASC 842, went into effect for public transportation and logistics companies last year. FASB recently proposed extending the ...

The clock is ticking on the countdown to the implementation of the new lease accounting standard for private companies. According to reports from the Securities and Exchange Commission and the U.S.

In December, new accounting standards for reporting leases are scheduled to go into effect. The intention: To more accurately portray leases’ implications for a company’s financial health. Under the ...

A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most ...

Public companies’ required implementation of FASB’s new lease accounting standard in 2019 means that financial statement auditors need to be prepared to make new judgments. Although the private ...

Rochester Institute of Technology adopted the Financial Accounting Standards Board (FASB) new accounting guidance on leases FASB Accounting Standards Codification Section 842 ("ASC 842") on July 1, ...

In recent years, lease accounting standard ASC 842 has replaced the ASC 840 standard. As per the Financial Accounting Standards Board updated accounting standards, ASC 842 requires that all leases, ...

Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private ...

New lease accounting standards coupled with the many pressures brought on by the pandemic have changed how organizations prioritize their leases. Companies are currently reevaluating their lease ...