Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

With the new Financial Accounting Standards Board (FASB) lease accounting standard — Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), many companies are grappling with the transition ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Accounting for leases requires lessees to record on their ...

Chances are you’ve already tangled with the ASC 842/IFRS 16 changes in standards determining how organizations should be accounting for leases on the balance sheet. The effective date for implementing ...

Lease accounting is becoming more complex and detailed for private companies and not-for-profit entities. Business valuations may also be impacted by the new standard. Effective in fiscal years ...

Public companies’ required implementation of FASB’s new lease accounting standard in 2019 means that financial statement auditors need to be prepared to make new judgments. Although the private ...

For decades, companies have leveraged a tactic called off-balance sheet (OBS) financing to borrow for major capital expenditures, including real estate and equipment, without having to account for ...

You may have heard about a proposal that would change how leases are accounted for on corporate balance sheets. If your company leases or finances equipment, you should be aware of how the proposal ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. With the lease accounting standard changes from the U.S ...