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Recent articles
Practical Illustrations of the New Leasing Standard for Lessees
A fter a nearly 10-year collaboration to develop a converged standard on leasing, on Jan. 13, 2016, the IASB issued IFRS 16, Leases, and on Feb. 25, 2016, FASB issued Accounting...
Accounting for Leases under the New Standard, Part 2
How to account for leases under ASC 842.
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ICYMI | A Refresher on Accounting for Leases
In Brief FASB’s long-debated exposure draft of a new standard on accounting for leases has raised the possibility that almost all leases will need to be capitalized in the near future. Although...
Implementing New Standards for Revenue Recognition, Leases, and Financial Statements
The panel began with a discussion of the new standard for revenue recognition and the process for implementing it. Siegel highlighted some of the more prominent changes, such as moving the...
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Accounting for Leases Under the New Standard, Part 1
In Brief The new lease accounting standard, released by FASB in early 2016, represents one of the largest and most impactful reporting changes to accounting principles in decades. The standard...
Oil and Gas Companies May Receive Relief from Lease Standard
FASB News Oil and Gas Companies May Receive Relief from Lease Standard FASB wants to give utilities and oil-and-gas companies some relief when they switch to the board’s new lease standard. The...