Members of the Financial Accounting Standards Board voted 6 to 1 at a meeting in March to create a new, optional transition method for lessees under the ASC 842 lease accounting standards. The new ...

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 ...

The Financial Accounting Standards Board’s new lease-accounting standard, ASC 842, went into effect for public transportation and logistics companies last year. FASB recently proposed extending the ...

In February 2016, the Financial Accounting Standards Board issued an update known as ASC 842 that, among other changes, brings most leases onto the balance sheet. Now, all of a company’s operating ...

When the calendar flipped from 2021 to 2022, your private company didn’t only enter yet another year. Instead, it entered when the latest Financial Accounting Standards Board (FASB) ASC 842 compliance ...

Businesses today are operating in an unprecedented time of change, forcing organizations to drive results while also navigating an increasingly complex marketplace. Businesses today are operating in ...

The US GAAP lease accounting standard, ASC 842, requires that all leases, both operating and finance, are moved on-balance sheet unless the lease term is less than 12 months. The on-balance sheet ...

The new standard requiring all leases longer than 12 months to be recorded on balance sheets is now in effect for nonpublic companies with a fiscal year beginning after Dec. 15, 2021. Processing ...

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 ...