Similar to the FASB and IASB, the Governmental Accounting Standards Board released guidance updating the accounting for lease agreements. GASB No. 87, Leases, is effective for applicable governmental entities for reporting periods that begin subsequent to December 15,...
Whether you call it the fourth industrial revolution or insist we’re living in the transformation economy, recent technological advances are making an impact on every aspect of business. Many accountants are unsure of the impact things like cloud-based tech,...
Government entities have until the end of the year to implement the policies and processes needed to comply with new rules on accounting for leases. The Government Accounting Standards Board (GASB) released Statement No. 87, Leases, in June of 2017, and the new rules...
The new lease accounting standard creates new opportunities for accounting and advisory firms. Your clients will need guidance on interpreting the standard, developing their policies, and implementing lease accounting software. But before you dive into building your...
Under IFRS 16, accounting for leases has become increasingly complex. Implementing and maintaining compliance with the new standard is a complicated process that involves new processes, policies, and systems. The compliance deadline has arrived, but if recent research...
Among the many accounting standard updates and new standards that have been issued in recent years, there have been significant changes to the way organizations address service contracts. The new lease accounting standards add complexity to how you address service...
