How audit committees can evaluate lease accounting implementation
A new Center for Audit Quality tool is designed to help audit committees with oversight of this difficult adoption process.
Asset Management: Lease Lessons
The third article in a series by David Kirshenbaum, SVP of Hilco Real Estate, published in The Inlander.
Tips for lease accounting implementation
The effective date for implementing FASB’s new lease accounting standard is still about one year away, but it will require additional resources and a team effort.
Changes on the Way for Lease Accounting
This past May, the US and International Accounting Boards (the FASB and IASB) issued the Revised Exposure Drafts (RED) on proposed changes to the accounting for leases in an effort to seek greater …
Lease Accounting Basics: What is a Lease Contract?
Excerpt from the book Lease Accounting with SAP: IFRS 16 and ASC 842: SAP RE-FX and SAP Lease Administration by Nakisa by Hanno Hofmann, Pamela Lim,
How new accounting rules boosted Tesla’s numbers
A new accounting rule helped electric car maker Tesla Inc. to post a first-quarter revenue beat, but the company also used the change to book a stealth adjustment to its running total of accumulated losses.
A welcome change in lease-accounting rules
Changes in lease-accounting rules will create more transparency for investors but not much change in company operations.
Accounting and Valuation Guide for IPR&D
The AICPA has issued the Accounting and Valuation Guide, Assets Acquired to be Used in Research and Development Activities (the Guide).
Testing Goodwill for Impairment
Practical guidance and illustrations related to the qualitative assessment and the first step of the two-step goodwill impairment test.
Top 4 Instagram Accounts for Jewelry Lovers
Follow these popular jewelry Instagram accounts for ideas, inspiration and style!
How Are Companies Faring on the Road to Lease Accounting?
Adopting the new lease accounting standard is a major undertaking. Get insight into how the journey is unfolding for organizations in 22 U.S. cities in this post.
How to Implement the New Lease Accounting Standard
With ASC 842 slated to take effect in just a few months, accounting teams need a methodical approach to implementation. Here is a guide.
How the New Accounting Standard for Leases Impacts Manufacturers
Whether a manufacturer has only one lease or many, the new accounting standard for leases, ASU 2016-02, Leases (Topic 842), may have a significant impact on financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP).
3 Fixes to Lease Accounting Rules for Landlords
The new rules on accounting for leases have already taken effect for public companies and will apply to all other entities in 2020. While most of the rule changes apply to tenants, some of the provisions mark a departure for landlords — and many parties raised concerns about the rules’ cost and complexity soon after …
How to Rescue Embedded Images From a DOCX File
“If you rename a .docx file to .zip you can open it,” tweets SwiftOnSecurity, the security professional/Taylor Swift parody account. Then you can grab images and video that were embedded in the document, all as separate files. Swift’s followers have more great tips for rescuing data from different file formats. For example, you can use Swift’s method to open a corrupted .docx file:
AICPA Urges Delay of Lease Accounting Rules
FASB should postpone the effective date of the “significant and complex” ASC 842 for a year for private companies, AICPA says.
New Lease Accounting Standards: How They Affect Your Lease and Commercial Property
We've been hearing about the proposed changes in lease accounting standards for over two years. And now we seem to be at the final comment stage with FASB (Financial Accounting Standards Board), proposing new changes to go into effect in 2017. What are these proposed changes? Why should CRE professionals care? Why are we talking about them now? Hint, if the leases you are signing today are longer than 4 years, you should be thinking about this and listening.
What are the business risks associated with lease accounting?
What are the business risks associated with lease accounting? Here are five potential risks associated with lease accounting compliance.
Lease accounting tips for public and private companies
Public companies are finding that even though they have implemented FASB’s new lease accounting standard, their work is not nearly done. Private companies, meanwhile, are struggling with their own adoption of the standard.
FASB Offers Insight on Three Lease Accounting Trends
As the Financial Accounting Standards Board (FASB) continues to field inquiries about its new lease accounting standard, it has found that the questions turn