Lease Accounting

Lease Accounting Transition Causes Significant Balance Sheet Impacts

Implementation of the new lease accounting standard has led to average balance sheet lease liability increases of 1,475%, according to new research from lease accounting technology provider, LeaseQuery. read more

LeaseAccelerator Study Explores Lease Accounting Center of Excellence Use

LeaseAccelerator released the results of a research study on the use of lease accounting centers of excellence by public companies that have adopted ASC 842. read more

FASB Issues Accounting Standards Update

The FASB issued an accounting standards update that clarified the interaction between accounting standards related to equity securities, equity method investments, and certain derivatives. read more

LeaseQuery and RSM Take Lease Accounting Technology to New Heights

LeaseQuery extended its partnership with RSM. The companies will work with commercial and government organizations to facilitate lease accounting compliance. read more

FASB Chairman Faces House Subcommittee on CECL’s Economic Impact

The Wall Street Journal reported that a house subcommittee interrogated FASB Chairman Russell Golden on the credit-loss standard’s potential impact on the economy. read more

FASB to Focus on Liabilities and Goodwill in 2020

The Wall Street Journal reported that the Financial Accounting Standards Board will focus on two issues in 2020: differentiating liabilities from equity and improving the measurement of goodwill. read more

LeaseAccelerator New Release Supports  GASB 87 Standard

LeaseAccelerator announced that its latest release includes full support for the GASB 87 lease accounting standard.  read more

2020 GAAP Financial Reporting and SEC Reporting Taxonomies Available

FASB has released the 2020 GAAP Financial Reporting Taxonomy, the 2020 SEC Reporting Taxonomy, and the new 2020 XBRL US DQC Rules Taxonomy (DQCRT). read more

WSJ: IASB Proposes Rule to Provide More Transparency on Profit, Income

The Wall Street Journal reported that the International Accounting Standards Board proposed a new rule that would change how companies report and explain profit. read more

Jones Appointed Chair of FASB

The Board of Trustees of the Financial Accounting Foundation appointed Richard R. Jones as the next chair of the Financial Accounting Standards Board. read more

LeaseAccelerator Publishes Analysis of SEC Comment Letters on ASC 842

LeaseAccelerator released an analysis of SEC Comment Letters related to ASC 842 lease accounting and disclosures. read more

LeaseQuery Completes SOC 1 Type 2 Assessment

Lease accounting software provider LeaseQuery completed a System and Organization Controls (SOC) 1 Type 2 assessment performed by a Big 4 auditor. read more

FASB Issues Narrow-Scope Improvements to Credit Losses Standard

The FASB issued an ASU that addresses issues raised by stakeholders during the implementation of an Accounting Standards Update regarding the measurement of credit losses on financial instruments. read more

Alta Group Director Releases New Lease Accounting Textbook

Shawn Halladay, managing director of the Professional Development Practice at The Alta Group, has released a new textbook on lease accounting, Accounting for Leases: Embracing the New Paradigm. read more

FASB Delays Effective Dates for Credit Losses, Leases, Other Standards

The FASB issued two ASUs that finalize various effective date delays for standards on current expected credit losses, leases, hedging and long-duration insurance contracts. read more

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