Lease Accounting Related Content

It’s All About Lessee-Side Balance Sheet Reporting

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

More Than Just Numbers: Leasing Can Be a Funny Business

Bill Bosco explores the lighter side of leasing. He shares a few amusing anecdotes from his leasing career to remind us that there’s more to leasing than formulas and number crunching.... read more

Twenty-Five years and Counting: We Have Lived in Interesting Times

Bill Bosco takes a look at the ways the principles of accounting and taxation that govern leasing have changed over the last 25 years, mostly for the better.... read more

Study Shows Expected Impacts of New Lease Accounting Standards

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

Half of All Companies Yet to Assess Impacts of New FASB Standard

In a recent survey by KPMG, nearly half of all companies surveyed have not begun to assess the impacts of the new FASB lease accounting standard. read more

The New Rules Get It Right: ITC Confirmed as Lease Revenue

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

Survey: Companies Dependent on Spreadsheets to Manage Equipment Leases

According to a survey conducted by equipment lease management software company LeaseAccelerator, less than 10% of respondents believed they had the right systems in place to comply with the news leasing standards. read more

The Days of Excel Are Done: Lessees Prepare for the New Accounting Rules

Bill Bosco reviews the changes that lessees will encounter while preparing for the new FASB lease accounting rules. He encourages lessees to utilize a lease accounting system and outlines the information that lessees will need to research and enter into the new system.... read more

CHP Publishes Final Whitepaper on International Lease Accounting

CHP Consulting published the final version of its whitepaper on changes in international lease accounting standards. read more

FAS 13 Becomes Topic 842: Differences Are Minimal in Lease Accounting

With the FASB leases project nearing its finale, Bill Bosco outlines key changes to lessor accounting, including the definition of lease payments and how the new rules will affect bundled leases. He also discusses changes to the definition of a lease, updated lease classifications and the end of the leveraged lease.... read more

ELFA Releases Tools to Help Prepare for New Lease Accounting Rules

The Equipment Leasing and Finance Association released a host of user-friendly tools to help lessors and lessees prepare for the recently issued lease accounting rules. read more

Study Identifies Companies Most Affected by Lease Accounting Rules

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

No Casualties in Leasing: Implications for Revenue Recognition

In part two of a three part series, Monitor editor, Rita E. Garwood, sits down with members of the ELFA’s Financial Accounting Committee — Bill Bosco, John Bober and Rod Hurd — at the ELFA’s 2015 Lease and Finance Accountants Conference to discuss the implications of the new revenue recognition standard.... read more

ELFA Financial Accounting Committee: Transitioning to the New Lease Accounting Standards

In part one of a three part series, Monitor editor, Rita E. Garwood, sits down with members of the ELFA’s Financial Accounting Committee — Bill Bosco, John Bober and Rod Hurd — as well as ELFA president and CEO-elect Ralph Petta at the ELFA’s 2015 Lease and Finance Accountants Conference to discuss the most important steps that lessors and lessees can take to ensure a smooth transition to the new accounting standards.... read more

Final Drafts Under Review: The Impact of Proposed Lease Accounting Rules

Bill Bosco provides an update on the status of the lease accounting project and operational issues. He outlines outstanding issues and reveals good and bad news, as well as the anticipated financial impact, of the new accounting rules.... read more

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