According to a survey conducted by Deloitte, the new accounting standards under the expected credit losses standard will have a pervasive impact on all financial institutions. read more

FEB 27, 2017 - 7:31 am

More than one-half (54.7%) of respondents to a Deloitte poll expect their organizations to increase the amount of time and effort spent on implementing the new FASB and IASB lease accounting standards in 2017. read more

DEC 23, 2016 - 7:10 am

ECS Financial's Jay W. Dahl explains that leasing software is an important tool that can be used to collect the substantial amount of information needed to meet the FASB's new leasing standards. He also advises that a good understanding of GAAP and federal and state taxes rules will help alleviate the burden of taxes on your business.... read more

December 2016

The industry has a new issue in need of advocacy. The capital requirements of banks and other regulated financial institutions are at stake as regulators may treat newly capitalized right of use asset and operating lease liability as any other asset and debt. Bill Bosco provides background on the situation, discusses the ELFA’s advocacy efforts and initiates a call to action.... read more

November/December 2016

Although the initial goal of the lease accounting project was to create a global set of rules, the FASB and IASB could not agree on everything, which resulted in some disparity. Bill Bosco discusses the key differences between the two sets of rules and the resulting implications.... read more

September/October 2016

With the new FASB lease accounting standard inching ever closer to implementation, CPA Phil Tirino takes a closer look at the new leasing guidelines and gives further insight into what needs to be done to prepare and some technical points of distinction for operating and finance leases. ... read more

October 2016

The FASB issued an Accounting Standards Update that simplifies and improves how not-for-profit organizations classify net assets. read more

AUG 19, 2016 - 6:45 am

Financial Executives Research Foundation (FERF), in collaboration with EY, issued a new study assessing what companies are doing to address the challenges brought by the new lease accounting standards. read more

JUN 22, 2016 - 7:37 am

The new lease accounting rules have clarified that the investment tax credit is a component of lease revenue, but the FASB did not include any detailed guidance regarding how to account for it. Bill Bosco discusses the history of the ITC tax credit and provides an example of how to handle this complex accounting.... read more

May/June 2016

The new lease accounting rules released by the Financial Accounting Standards Board will not affect credit ratings by Fitch Ratings, according to the nationally recognized statistical rating organization. read more

MAR 7, 2016 - 7:43 am

The Financial Accounting Standards Board (FASB) appointed Mark Scoles, partner-in-charge of Grant Thornton’s Accounting Principles group, to the Emerging Issues Task Force. read more

MAR 3, 2016 - 6:45 am

According to Moody’s, FASB’s much-anticipated new lease accounting standard requiring the recognition of operating leases on the balance sheet will increase reported debt by roughly $1 trillion. read more

FEB 29, 2016 - 6:58 am

The Financial Accounting Standards Board (FASB) issued an update on the new accounting standards intended to improve financial reporting of leasing transactions. read more

FEB 26, 2016 - 6:55 am

A delegation of community bankers from the Independent Community Bankers of America met with FASB on widespread concerns regarding the Expected Credit Loss Proposal read more

FEB 8, 2016 - 7:25 am

LeaseAccelerator published a report listing the off-balance sheet lease obligations of the 500 largest U.S. public companies. The report aims to provide awareness of the impact of the new lease accounting standards. read more

JAN 29, 2016 - 7:19 am