The compliance deadline for FASB Topic 842 and IFRS 16 is nearing (January 2019 for public companies) and your transition should be underway. However, with all you have to do, we understand...
SUMMARY of the New Lease Accounting Rules and Lease Accounting Changes
As it’s the end of the year, we thought it would be a good idea to recap the decisions reached by the FASB and IASB about...
On Wednesday, January 21, 2015, the FASB and IASB boards had a VERY LONG meeting on leases. Here is the outcome of the meeting, as always, in plain English. The meeting focused on disclosure...
In May 2013, the FASB and IASB released an Exposure Draft proposing a new approach to lease accounting. The proposed accounting rules will require recognition of all leased assets as “Right of...
In this post I will explain Type A leases in detail from the lessee perspective. We will discuss how to calculate the initial and subsequent values of the lease liability and the initial and...
Today (2/25/2016), the FASB released its long awaited lease accounting standard. The FASB issued the update to increase transparency and comparability among organizations by recognizing lease...
At its meeting February 17, 2016 the FASB announced that it expects to issue its standard on accounting for leases, ASU 2016-02, on Thursday, February 25, 2016. That’s next week folks, for those...
Today (January 13, 2016), the International Accounting Standards Board released the long awaited changes to lease accounting. Under the new IFRS lease accounting rules released today, all leases will...
In a 4 to 3 vote, the FASB voted yesterday (April 10, 2013) to move ahead and re-release the New Lease Accounting Exposure draft which will be converged with that of the International Accounting...