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Recent articles
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...
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FASB Small Business Advisory Committee Seeks U.S. GAAP Exemptions
Small Business Advisory Committee Seeks U.S. GAAP Exemptions Some members of FASB’s Small Business Advisory Committee (SBAC) have told the accounting board that, because of their resource...
A Sea Change Is Coming – Transitioning to FASB’s New Lease Accounting Standard
On the heels of the Financial Accounting Standards Board’s (FASB) new revenue recognition standard, which becomes effective for calendar-year public companies beginning January 1, 2018, the...
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GASB Proposes Recognizing More Leased Assets and Liabilities
Accounting for leases has received considerable attention from standards setters in recent years. Under current FASB and GASB accounting rules, many leases are structured to avoid the...
Variable Lease Payments: Implications under the New Lease Standard
After years of anticipation, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have issued their final standards on lease accounting....