Leaseurope, the trade federation representing leasing and automotive rental at European level, has called on the International Accounting Standards Board (IASB) to “Think Small First” before extending new lease accounting rules to its IFRS for SMEs...
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October 29, 2020, 07:25 AM
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LeaseAccelerator has published a 90-Day Countdown Checklist for project teams in the final stages of preparing for the new lease accounting standards. One of the biggest accounting changes ever, the new ASC 842 and IFRS 16 standards will see almost...
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October 09, 2018, 07:05 AM
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LeaseAccelerator announced the release of its Who is Most Impacted by the New Lease Accounting Standards report, a ranking of the US public companies with the largest leasing obligations. The report includes total operating lease obligations for the...
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July 27, 2018, 07:15 AM
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Just 21.2 percent of finance, accounting and other professionals say their companies are "extremely" or "very" prepared to comply with the Financial Accounting Standards Board's (FASB) and International Accounting Standards Board's (IASB) respective...
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March 20, 2018, 07:05 AM
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Accruent announced that Jamba Juice, healthy lifestyle brand and global leader in handcrafted blends, will manage its large retail store portfolio with Accruent’s lease administration software. The new FASB/IASB standards are the most sweeping...
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September 15, 2017, 07:05 AM
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Accruent announced that it has acquired Plano, Texas-based Lucernex, Inc.Lucernex is a leading, global provider of cloud-based, Integrated Workplace Management Systems (IWMS), including advanced solutions for organizations in any industry seeking...
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August 10, 2017, 07:06 AM
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A year and a half after the issuance of the Financial Accounting Standards Board’s (FASB) and International Accounting Standards Board’s (IASB) respective new lease accounting standards and a year and a half before compliance begins for U.S.-based...
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August 07, 2017, 08:14 AM
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LeaseAccelerator announced the results of a Progress Report study gauging the readiness of large companies to support the new lease accounting standards (ASC 842) one year after their initial publication. The research study, conducted earlier this...
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February 28, 2017, 07:10 AM
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BDO USA, LLP, one of the nation’s leading accounting and consulting organizations, and CoStar Real Estate Manager, a division of CoStar Group, Inc. and a leading lease management software provider, announced a strategic alliance under which BDO and...
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November 02, 2016, 07:07 AM
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Just 9.8 percent of more than 5,400 financial and accounting professionals say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting...
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June 07, 2016, 07:07 AM
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CHP Consulting has published the final version of its authoritative whitepaper on changes in international lease accounting standards.The fully revised Lease Accounting Reform: The Systems Impact for Asset Finance Lessors reflects the final standards...
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March 25, 2016, 07:15 AM
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The Equipment Leasing and Finance Association (ELFA) has released a host of new user-friendly tools to help lessors and lessees prepare for new lease accounting rules issued recently by the Financial Accounting Standards Board. The association is...
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March 02, 2016, 07:10 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real...
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February 26, 2016, 07:18 AM
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Ralph Petta, President and CEO of the Equipment Leasing and Finance Association, released the following statement regarding the new lease accounting standard issued by the Financial Accounting Standards Board (FASB):“We welcome the release of the new...
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February 26, 2016, 07:17 AM
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The International Accounting Standards Board® (the Board) issued a new accounting Standard, called IFRS 16 Leases. It replaces accounting requirements introduced more than 30 years ago that are no longer considered fit for purpose and is a major...
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January 15, 2016, 07:30 AM
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The Financial Accounting Standards Board (FASB) voted to proceed with a new accounting standard that would require companies and other organizations to include lease obligations on their balance sheets. The final Accounting Standards Update (ASU) is...
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November 12, 2015, 07:30 AM
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The International Accounting Standards Board (IASB) is in the process of finalizing a new International Financial Reporting Standard (IFRS) that will require companies to bring leases onto the balance sheet. On March 16, 2015, it published a...
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March 17, 2015, 07:03 AM
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The Equipment Leasing and Finance Association has selected John Bober, Global Technical Controller for GE Capital, to receive its 2014 Distinguished Service Award. The award honors individuals who have made significant contributions to the...
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September 09, 2014, 07:00 AM
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According to the Wall Street Journal, U.S. and international accounting rule makers are getting closer to a final version of thier proposed lease accounting overhaul, but the two boards are unlikely to use the same lease expensing model in their...
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August 11, 2014, 06:50 AM
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Full U.S. adoption of International Financial Reporting Standards (IFRS) appears unlikely to occur in the intermediate-term as the major accounting standard setters continue to move away from full convergence of their standards, according to a Fitch...
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July 09, 2014, 06:37 AM
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According to a report in the Journal of Accountancy, FASB and the IASB are still struggling to find common ground in their efforts to create a converged standard for financial reporting on leases.During a Tuesday meeting at FASB’s headquarters in...
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March 20, 2014, 07:00 AM
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Reuters reports that the draft rule forcing companies to put leases on their balance sheets is set to be eased after fierce opposition from companies worried that investors would take fright and that loans linked to leverage would be put at risk. The...
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January 28, 2014, 06:57 AM
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Additional complexities for accountants who deal with a large number of operating leases will arise from the IASB’s proposals says the Global Forum for Corporate Reporting.
Proposals to change the way in which leased assets are accounted for, put...
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September 16, 2013, 06:55 AM
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Calls for Boards to Reevaluate the Leases ProjectWilliam G. Sutton, CAE, President and CEO of the Equipment Leasing and Finance Association, released the following statement highlighting recent developments that add to mounting evidence that the...
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September 04, 2013, 07:03 AM
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) formally announced plans to create a joint transition resource group focused on the upcoming final converged standard on revenue recognition. The...
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July 29, 2013, 07:01 AM
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Reuters reported that the U.S. Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) found little common ground during a meeting held on Tuesday to help shield taxpayers from further bank bailouts despite...
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July 24, 2013, 06:58 AM
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Fitch Ratings expects lessors to face significant challenges in applying the new rules, but the impact on economic fundamentals in the leasing industry will be limited.Off-balance sheet treatment, which would end for most lessees under the terms of...
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July 18, 2013, 06:59 AM
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The FASB and the IASB will host several joint public roundtable meetings on their revised joint proposals on leases that were published in May 2013: the revised proposed FASB Accounting Standards Update, Leases (Topic 842), and the IASB Exposure...
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July 03, 2013, 07:02 AM
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The Equipment Leasing and Finance Association will hold a web seminar, “Changes in Lease Accounting: Analysis and Implications for Your Business,” on Thursday, June 27, 12:30pm-2pm ET. The web seminar will analyze the lease accounting Exposure Draft...
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June 05, 2013, 07:03 AM
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According to an article posted on the Journal of Accountancy, IASB Chairman Hans Hoogervorst on Thursday acknowledged the converged lease accounting proposal is bound to be unpopular with many companies.The report states that in a telephone...
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May 17, 2013, 07:14 AM
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William G. Sutton, CAE, President and CEO of the Equipment Leasing and Finance Association, today released the following statement regarding the exposure draft published by the Financial Accounting Standards Board (FASB) and the International...
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May 16, 2013, 10:10 AM
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today published for public comment a revised Exposure Draft outlining proposed changes to the accounting for leases. The proposal aims to improve...
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May 16, 2013, 07:24 AM
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CFO.com reports the new lease accounting proposal agreed upon by the FASB and IASB is still getting pummeled by finance executives. Ralph Petta, chief operating officer at the Equipment Leasing and Finance Association (ELFA) notes that the boards’...
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September 20, 2012, 07:14 AM
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CFO.com reported that companies that lease equipment could see their profits shrink in the early years of a contract under the new proposed Financial Accounting Standards Board’s (FASB) and International Accounting Standards Board’s (IASB) June 13th...
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July 18, 2012, 07:29 AM
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Leaseurope, the European Federation representing the leasing and automotive rental industry, is pleased to see that the Boards have officially communicated on the next steps in their Leases project. The timeframe should provide the leasing industry...
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June 15, 2012, 08:00 AM
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The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today agreed on an approach for accounting for lease expenses as part of a project to revise lease accounting in International Financial Reporting...
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June 14, 2012, 07:50 AM
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A coalition of several leading nonprofit and commercial organizations, including the U.S. Chamber of Commerce, released a report today that examines the economic impact of the International Accounting Standards Board (IASB) and Financial Accounting...
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February 17, 2012, 07:30 AM
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International Decision Systems (IDS), the leading provider of asset finance software, announced today that Philip Benké has been appointed Senior Account Executive - Strategic Accounts EMEA based out of the company’s European Head Office in...
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February 07, 2012, 06:00 AM
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