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 ...

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 ...

The changes brought about by FASB’s new lease accounting standard are coming into full view for finance departments that use U.S. GAAP for their financial reporting. Many public companies are in their ...

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 ...

The focus on lease accounting readiness since the Financial Accounting Standards Board released the new standard in early 2016 has been primarily on public company implementations. With more than ...

The Financial Accounting Standards Board issued its long-anticipated update to ASC 842 – Accounting for Leases, in February 2016. Tenants will see some significant changes to their financial ...

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 ...

Accounting rules break leases into two classes. When you lease equipment or a building for a relatively short term, you have an operating lease, AccountingTools explains. If you lease long-term or in ...

Proposed lease accounting rules could have a serious impact on businesses that have significant leasing activities. A draft standard for lease accounting developed by the U.S. Financial Accounting ...

Last year, the Financial Accounting Standards Board (FASB) announced new lease accounting rules that require all leases to be on corporate balance sheets. To date, the FASB has yet to circulate the ...

CFOs are finding the scrutiny of new accounting rules is helping them streamline their lease management and save money, but there are challenges. Despite being given three full years to prepare for ...