by Accounting Today | Nov 10, 2021 | Articles, Industry Accounting, Lease Accounting, Non-Profit
The Financial Accounting Standards Board voted Wednesday against deferring the lease accounting standard for a third time for private companies and not-for-profit organizations.The standard is set to take effect for nonpublic entities for fiscal years beginning after...
by Accounting Today | Nov 10, 2021 | Articles, Auditing
Internal auditors are keeping a close eye on emerging risks as the COVID-19 pandemic continues, with cybersecurity at the top of the priority list.A new survey by AuditBoard, a provider of cloud-based audit, risk and compliance management technology, polled a group of...
by Accounting Today | Oct 25, 2021 | Articles, ASC 842, Lease Accounting
The majority of private companies have yet to implement the new lease accounting standard entirely, even though the effective date is fast approaching.Three-quarters (75%) of privately held companies surveyed this spring by Visual Lease, a lease accounting software...
by Accounting Today | Oct 13, 2021 | Articles, Auditing
Technological changes are already making an impact on how auditing firms are carrying out their audits.The Center for Audit Quality and the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness co-hosted a virtual event Wednesday examining the future...
by Accounting Today | Aug 20, 2021 | Articles, ASC 842, Lease Accounting, US GAAP Accounting
ASC 842, the new lease accounting standard, represents the most significant change in decades to the way companies account for leases under U.S. GAAP. For the first time, companies are required to present most of their operating leases on the balance sheet, which has...
