Lease Accounting

Fed, FDIC & OCC Delay CECL Adoption for Two Years

The federal bank regulatory agencies announced an optional extension of the regulatory capital transition for the new credit loss accounting standard. read more

Bober: Resources Available for COVID-19 Impact on Financial Reporting

John Bober, chair of the Equipment Leasing and Finance Association’s Financial Accounting Committee, provided a list of resources available regarding COVID-19’s impact on financial reporting. read more

Bloomberg Tax Releases New Workflow Tools for Tax Practitioners

Bloomberg Tax & Accounting released a new set of workflow tools designed to help practitioners save time by getting them to the information they need faster. read more

Deloitte Poll: 50% Have Not Started GASB Lease Accounting Compliance

Work to adopt the mandatory GASB lease accounting standard has not begun for half of those employed in state and local governments (51.4%) and public higher education institutions (50%), per a Deloitte poll. read more

FDIC Chairman to FASB: Defer CECL

The Wall Street Journal reported that FDIC Chairman Jelena McWilliams has asked FASB to defer CECL implementation for large public lenders. The Journal noted that McWilliams advocated for large lenders to have the option to use the old model of... read more

FASB Issues Guidance for LIBOR Transition

The Financial Accounting Standards Board issued an Accounting Standards Update that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. read more

FASB Postpones Leases Roundtable to May 18, 2020

The Financial Accounting Standards Board postponed the date of its public roundtable discussion on the implementation of its accounting standard on leases. read more

FASB Issues Narrow-Scope Improvements to Financial Instruments Guidance

The FASB issued an Accounting Standards Update that makes narrow-scope improvements to various aspects of the financial instruments guidance. read more

FASB to Host Public Leases Roundtable to Discuss Implementation Experiences

The Financial Accounting Standards Board scheduled a public roundtable discussion on April 9 to discuss the implementation of its accounting standard on leases. read more

WSJ: Coronavirus Could Complicate Credit Loss Forecasting

The Wall Street Journal reported that the coronavirus could affect the way U.S. companies comply with CECL. read more

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

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