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 ...

Cathy Clarke, CPA, worries that companies are underestimating the amount of work required to implement FASB’s new lease accounting standard. As chief assurance officer for CliftonLarsonAllen LLP in ...

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 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 ...

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 ...

Private companies are facing a deadline on implementing the new lease accounting standard, but recent updates in the rules could make an impact on their financial statements and disclosures. Other ...

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, ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Accounting for leases requires lessees to record on their ...

Lease accounting is becoming more complex and detailed for private companies and not-for-profit entities. Business valuations may also be impacted by the new standard. Effective in fiscal years ...

On August 17, the FASB and IASB released the final version of the exposure draft on lease accounting that significantly changes the way entities account for leases. Their exposure draft, Leases, ...

Retained earnings is an equity account on a company's balance sheet that comprises its cumulative, undistributed earnings. When a company's books are closed at the end of its fiscal year, an ...

Under accounting guidelines, rent expense belongs to the "selling, general and administrative accounts" category. Other SG&A items include charges as diverse as litigation, office supplies, money a ...