Blog posts tagged Fasb
Posted on 09/05/2017
Top-of-mind for executives: FASB/IASB compliance and a complete review of the operational approach and methodologies that will ensure a smooth transition to the new standards. A significant part of the delay in this effort is the sheer amount of data that must be collected and reconciled.
Posted on 08/17/2017
One of the biggest impacts of the new FASB/IASB standards is the recognition of equipment leases on balance sheets. The upcoming regulatory deadline is putting pressure on organizations to quickly identify equipment leases, integrate and become compliant.
Posted on 08/15/2017
The greatest impact of the new FASB/IASB standards will be on equipment leases, such as vehicle leases and TRAC leases, since these have traditionally been accounted for as operating leases, off-balance sheet, and managed operationally in local offices with decentralized lease management processes.
Posted on 07/31/2017
Under the new lease accounting regulations – formally announced at the beginning of 2016 as ASC 842 (under the guidance of the FASB) and IFRS 16 (under the guidance of the IASB) – all leases, subject to certain small exemptions, must now be placed onto the balance sheet regardless of classification.
Posted on 06/06/2017
The balance sheet is growing under the new FASB standard, asking that all leases with terms of more than 12 months are recognized as assets and liabilities. As part of your organization’s transition to the new standard, don’t overlook any departments that may be hanging on to leases of their own.
Posted on 04/28/2017
Depending on your role in an organization, you may not think about accounting standards very much (or at all). In fact, there are many reasons you should be thinking about the implications of the FASB 842 lease accounting changes.
Posted on 10/06/2016
The 10th annual Accruent Retail Executive Summit took place last month, and the event was a rousing success. The theme was “Building the Customer Experience.”
Posted on 08/16/2016
Posted on 08/04/2016
There are a number of standards that have been established that require adherence by non-governmental companies and organizations. In February 2016, FASB announced the new accounting standard ASC 842, that requires these organizations to include lease obligations on their balance sheet.