by Sam McDade | Mar 21, 2019 | Blog, Compliance, FASB ASC 842, Featured, Lease Accounting Standards
For most public companies, the effective date of the new lease standard has passed: January 1, 2019. For private companies, the effective date of the new lease standard, ASC 842, is January 1, 2020. If you’ve been keeping up with the new lease accounting guidance,...
by Jason Parker | Mar 14, 2019 | Blog, FASB ASC 842, Lease Accounting Standards
The FASB just released an important update, ASU 2019-01, that simplifies the implementation process to ASC 842. The updates are based on learning from companies that have transitioned to the new standard. Here’s what you need to know: Issue 1: Determining the Fair...
by Amanda Payne | Mar 14, 2019 | Blog, FASB ASC 842, Lease Accounting Standards
The adoption of ASC 842, Leases, is a change for companies in that it requires most leases to be recognized on the balance sheet, but the guidance also includes expanded disclosure requirements. Many companies designed a process to identify embedded lease arrangements...
by George Azih | Mar 1, 2019 | Blog, Excel, Lease Accounting Standards, Lease Management
To say that financial reporting regulations have changed in the past 20 years would be an understatement. We’ve seen significant recommendations made by The Securities and Exchange Commission (SEC), the introduction of The International Financial Reporting Standard...
by George Azih | Feb 20, 2019 | Blog, Compliance, FASB ASC 842, IFRS 16, Lease Accounting Standards
You’ve collected all of your company’s leases. You’ve built your amortization schedules. You’ve created your journal entries and reports. And now, the moment of truth: your first post-transition audit. What should you expect? What will your auditors be looking for?...
