FASB Related Content

FASB: ‘Expedient’ Alternative for New Lease Accounting Standard Adoption

According to PwC, in its most recent meeting, the FASB made a move to provide for quicker and more efficient implementation of the new lease accounting standard. read more

Survey: 75% of Companies Find New Lease Accounting Standards More Complex

According to LeaseAccelerator’s second annual readiness survey, nearly 75% of companies are finding the lease accounting project to be more complex than originally anticipated. read more

KPMG: Implementation Processes Continue for Lease Accounting Standards

According to a KPMG survey, only 15% of companies have completed their implementations in preparation for the looming deadline for compliance with the FASB lease accounting standards. read more

Accruent, PwC Partner to Prepare Customers for Lease Accounting Changes

Accruent entered into a joint business relationship with PwC, collaborating to prepare customers for FASB/IASB lease accounting changes. read more

FASB Proposes Improvements to Lease Standard Implementation

FASB issued a proposed accounting standard update intended to reduce costs and ease implementation of the leases standard for financial statement preparers. read more

CFO: Proposed FASB Standard Adjustments Would Give Companies a ‘Pass’

According to a post on CFO, FASB proposed adjustments to the new leasing rules which would give companies a “pass” in applying the new rules to 2017 and 2018 financials. read more

PowerPlan Adds to Customer Base for Lease Accounting Solution

PowerPlan added seven customers to its user base who are benefiting from the company’s lease accounting module, which ensures companies are fully compliant with the new FASB and IASB lease accounting standards. read more

Accruent Acquires Lucernex in Move to Support Adoption of FASB/IASB

Accruent acquired Lucernex in a move to boost its ability to provide advanced solutions for organizations in any industry seeking FASB/IASB compliant real estate and equipment lease accounting software. read more

Survey: Adopting New Leasing Standard More Difficult than Expected

According to a PwC survey, 47% of respondents said they’ve started implementation, but reported the effort is more difficult than expected. read more

New Accounting Rules: Implications for Vendor, Dealer and Captive Segments

Bill Bosco examines issues that vendor, dealer and captive finance segments will face when the new lease accounting rules go into effect. He discusses lessee operating lease accounting, sale leaseback accounting and sales-type lease accounting and provides strategies to deal with the changes effectively.... read more

Banks Will Be Cast Adrift If Their Loan Origination Systems Aren’t Up to Scratch

Ron Meyer

Banks are beginning to prepare for the biggest accounting change in living memory. Because the current system of financial reporting was too slow to recognize losses on loan and debt securities during the financial crisis, the global accounting framework for... read more

Basel Committee Addresses New Lease Accounting Standards FAQs

The Basel Committee issued responses to frequently asked questions related to the changes to lease accounting promulgated by the IASB and the FASB. read more

Research: 80% of CFOs Have Not Adapted to New FASB Rules

Asset Finance International reported that most companies have not made any progress toward implementing the new lease accounting rules. read more

FASB Meeting on Lease Implementation Issues: Results Are a Bad Omen

Bill Bosco reports on the FASB’s first meeting on Leases Topic 842, which concerned a consequential lessor classification issue. Although this issue results in bad accounting practices, Bosco is concerned because the board seems unwilling to resolve the issue through a revision of the standard.... read more

LeasePlan CFO Highlights Must-Know Changes to Lease Accounting Standards

LeasePlan USA’s CFO, Dave Dahm, stressed the importance of staying ahead of the changes made by the FASB and IASB, which can have significant impact on fleets. read more

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