ASC 842 Effective Date Update: What You Need to Know

ASC 842 Effective Date Update: What You Need to Know

New lease standard effective date and summary of the recent FASB meetingLast month (July, 2019), FASB met to discuss several outstanding items, including the effective date for lease accounting for private companies and nonprofits. After deliberation and...
Lease Accounting: What Are the New Challenges?

Lease Accounting: What Are the New Challenges?

Why the New Lease Accounting Standards Pose Major Challenges Until recently, most companies didn’t have to pay much attention to leases when issuing financial statements. With the new lease accounting standards, that’s set to change – drastically. Companies will be...
Takeaways and 5 Action Items from FEI’s CFRI Conference

Takeaways and 5 Action Items from FEI’s CFRI Conference

LeaseQuery’s Lease Accounting team recently attended the Current Financial Reporting Issues conference (CFRI conference), in New York City on November 13th and 14th and came back with a few important takeaways and action items related to the new lease accounting...
FASB’s Additional Lease Accounting Changes: 11/29/2017

FASB’s Additional Lease Accounting Changes: 11/29/2017

On November 29, 2017, the FASB issued a lease accounting standard simplification update for Topic 842. The FASB’s decisions strive to reduce costs and ease the implementation burden of Topic 842 for preparers. The key highlights are as follows for the lease accounting...