October 2015 Lease Accounting Update
The lease accounting project is getting much closer to finalization. At its October meeting, the Financial Accounting Standards Board (“FASB” or “the Board”) discussed the comments received as a result...
View ArticleLease Accounting Standard Effective Date
At its November 11, 2015 meeting, the Financial Accounting Standards Board (“FASB” or “the Board”) decided in principle to approve the proposed changes to lease accounting. We would expect that the...
View ArticleIASB expected to issue the new lease standard on Wednesday, January 13, 2016
According to the Massachusetts Society Of CPAs, the IASB is expected to issue the new lease standard on January 13, 2016 – next Wednesday. They also expect that the FASB will issue the same standard on...
View ArticleIFRS 16 Leases
On January 13, 2016, the International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard 16 Leases (“IFRS 16” or “the Standard”) substantially changing the manner in...
View ArticleSix Reasons Not to Use Spreadsheets for Lease Management and Accounting
A change in lease accounting has recently been finalized which will affect many business entities throughout the world. The accounting change will make lease management and accounting more complex. The...
View ArticleFASB hoping to issue lease accounting standard by February 29, 2016
The Financial Accounting Standards Board LEASE ACCOUNTING Feb. 9: New U.S. lease accounting rules that will leave deep impacts on many companies’ balance sheets are expected to be issued in the last...
View ArticleFASB expected to finalize lease accounting standards on Thursday, February...
According to Bloomberg BNA website, on Thursday February 25, 2016 the FASB plans to release its long-gestating standard on lease accounting. http://www.bna.com/feb-25-lessees-b57982067497/
View ArticleNew Lease Accounting Guidance Issued
The Financial Accounting Standards Board (“FASB”) issued the new lease accounting standard on February 25, 2016. As it pertains to lessees, the new standard requires that the liability for all leases...
View ArticleNew Lease Standard – Focus on Executory Costs
One of the areas of the new lease standard that has not received that much attention is executory costs. However, as lessees consummate new leases that must be transitioned into the new standard, this...
View ArticleThe New Lease Accounting Standards and Technology Requirements
Earlier this week, I participated on a webinar on the new lease accounting standards. The webinar was given by one of the major accounting firms and was specifically directed at how the new lease...
View ArticleNew Lease Accounting Standard – Implementation Challenges
A survey on the impact of the new lease accounting standard (as it pertains to lessees) was recently completed and its results validated some of the feedback that we have been providing over the last...
View ArticleiLeasePro’s FASB and IASB Lease Accounting Changes LinkedIn Group continues...
Our LinkedIn group, FASB and IASB Lease Accounting Changes, is growing fast. We are closing in on 500 members. This is a great group to discuss the FASB and IASB Lease Accounting changes with as you...
View ArticleThe New Lease Accounting Standard – How Recordkeeping Will Evolve
The New Lease Accounting Standard – How Recordkeeping Will Evolve
View ArticleClik here to view.
Implementing the New Lease Accounting Standard
Leases (Topic 842) was issued by the Financial Accounting Standards Board (“FASB”) in February 2016 and represented a rather substantial change in how leases are to be accounted for, especially for...
View ArticleSage Intacct and iLeasePro Announce Major Integration Enhancement
iLease Management LLC (“iLease”), developer of iLeasePro, an enterprise cloud-based Lease Management and Accounting solution, has announced a major step forward in its strategic partnership and...
View ArticlePrivate Companies Transitioning to the FASB ASC 842 Standard changes in 2019
Recent surveys from EY, PWC and Deloitte highlight that many public companies have found significant challenges in the successful transition to the ASC 842 standard. The transition has taken more time...
View ArticleNew Lease Standard – Focus on Executory Costs
One of the areas of the new lease standard that has not received that much attention is executory costs. However, as lessees consummate new leases that must be transitioned into the new standard, this...
View ArticleNew Lease Accounting Standard – Implementation Challenges
A survey on the impact of the new lease accounting standard (as it pertains to lessees) was recently completed and its results validated some of the feedback that we have been providing over the last...
View ArticleSix Reasons Not to Use Spreadsheets for Lease Management and Accounting
A change in lease accounting has recently been finalized which will affect many business entities throughout the world. The accounting change will make lease management and accounting more complex. The...
View ArticleSummary of Leases at 12/2 FASB Meeting
TENTATIVE BOARD DECISIONSTentative Board decisions are provided for those interested in following the Board’s deliberations. All of the reported decisions are tentative and may be changed at future...
View Article
