The Financial Accounting Standards Board issued an Accounting Standards Update (ASU) that eases transition to the credit losses standard by providing the option to measure certain types of assets at fair value. read more

MAY 16, 2019 - 5:35 am

The Wall Street Journal reported that the American Institute of Certified Public Accountants and the Associated General Contractors of America asked FASB to delay the new lease accounting rules for private companies by one year. read more

MAY 15, 2019 - 5:35 am

The FASB issued an Accounting Standards Update that addresses two lessor implementation issues and clarifies that lessees and lessors are exempt from a certain interim disclosure requirement associated with adopting the new leases standard. read more

MAR 7, 2019 - 6:50 am

The Financial Accounting Standards Board proposed an Accounting Standards Update (ASU) and Invitation to Comment (ITC) on the recognition and measurement of deferred revenue in business combinations. read more

FEB 19, 2019 - 6:55 am

FASB staff issued a question-and-answer document that addresses particular issues related to the weighted average remaining maturity (WARM) method for estimating the allowance for credit losses. read more

JAN 11, 2019 - 6:30 am

The Financial Accounting Standards Board announced the availability of the 2019 GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. read more

DEC 27, 2018 - 6:35 am

The Financial Accounting Standards Board issued an Accounting Standards Update that amends the transition requirements and scope of the credit losses standard issued in 2016. read more

NOV 19, 2018 - 6:40 am

JetBlue Airways has selected Accruent’s lease administration and accounting software to manage its lease processes and ensure FASB/IASB compliance. read more

OCT 19, 2018 - 7:00 am

This article discusses reporting concepts and solutions for systems specifically designed to meet the reporting requirements of both the lessor and lessee under ASC 842. While placing considerable focus on lessee reporting, new software has the opportunity to create simplified and powerful reporting and structuring capabilities for the lessor.... read more

September 2018

The FASB issued a proposal that would reduce costs and ease implementation of the leases standard for financial statement preparers. The proposal would also clarify a specific requirement in the standard related to lessor accounting. read more

AUG 15, 2018 - 7:17 am

With ASC 842 requiring all leases to be placed on balance sheet, will more lessees seek to structure equipment financing arrangements as service contracts, and is that really possible?... read more

Jul/Aug 2018

According to EY Accounting Link, the FASB amended the new standard to provide another option for transition and oil and gas entities must be cautious when applying the definition of a lease. read more

AUG 6, 2018 - 6:45 am

Deloitte’s latest poll revealed having the right IT systems in place remains a key challenge for public companies as the effective January 1, 2019 lease accounting standards implementation date approaches quickly. read more

AUG 2, 2018 - 6:35 am

A survey from Robert Half and Protiviti found only 44% of companies have begun the transition to adopt the Financial Accounting Standards Board's new lease accounting standard. read more

MAY 25, 2018 - 6:35 am

Harold Monk, a member of the FASB board, has informed the trustees of the FAF that he intends to resign from the FASB, citing person reasons, effective May 31, 2018. read more

MAY 15, 2018 - 7:33 am