The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would extend the period of time preparers can utilize the reference rate reform relief guidance and expand the Secured Overnight Financing Rate...
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April 21, 2022, 06:10 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings and writeoffs.FASB Chair...
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April 01, 2022, 07:17 AM
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The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) to improve the decision usefulness of information provided to investors about certain loan refinancings, restructurings and writeoffs. Stakeholders...
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November 24, 2021, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that improves discount rate guidance for lessees that are not public business entities—including private companies, not-for-profit organizations and employee...
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November 12, 2021, 07:22 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments.During the FASB’s...
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August 20, 2021, 06:00 AM
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Visual Lease unveiled the results of an in-depth study of 500 senior finance and accounting professionals analyzing where companies are in their efforts toward achieving compliance with ASC 842. The report reveals that despite 100 percent of...
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August 02, 2021, 07:10 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to improve an area of the leases guidance related to a lessor’s accounting for certain leases with variable lease payments.During the FASB’s...
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July 20, 2021, 07:20 AM
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LeaseCrunch said it sees four key trends in 2021 in lease accounting implementation, as non-public companies are the next to get into compliance.“2020 was a year no one expected,” said LeaseCrunch CEO Ane Ohm. “COVID-19 changed the way businesses...
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February 16, 2021, 07:05 AM
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The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would clarify the scope of the FASB’s recent reference rate reform guidance. Stakeholders are asked to review and provide input on the proposed...
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October 30, 2020, 07:12 AM
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The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to improve three areas of the leases guidance. Stakeholders are encouraged to review and provide comments on the proposed changes by Dec....
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October 21, 2020, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that grants a one-year effective date delay for certain companies and organizations applying the revenue recognition and leases guidance. Early application...
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June 04, 2020, 07:20 AM
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Work to adopt the mandatory Governmental Accounting Standards Board (GASB) lease accounting standard (GASB 87) has not begun for half of those employed in state and local governments (51.4 percent) and public higher education institutions (50...
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March 23, 2020, 07:00 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that provides temporary optional guidance to ease the potential burden in accounting for reference rate reform.“This new ASU provides stakeholders with the...
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March 13, 2020, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that makes narrow-scope improvements to various aspects of the financial instruments guidance, including the current expected credit losses (CECL) standard...
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March 10, 2020, 07:15 AM
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The Financial Accounting Standards Board (FASB) announced the date of its public roundtable discussion on the implementation of its accounting standard on leases. The discussion will focus on broad technical issues, such as embedded leases and...
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March 06, 2020, 07:15 AM
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LeaseAccelerator announced the results of a research study on the use of lease accounting centers of excellence by public companies that have adopted ASC 842. Over 100 finance and accounting professionals from U.S.-based publicly traded companies...
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February 07, 2020, 07:10 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that addresses issues raised by stakeholders during the implementation of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic...
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November 27, 2019, 07:25 AM
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The Financial Accounting Standards Board (FASB) issued two Accounting Standards Updates (ASUs) that finalize various effective date delays for standards on current expected credit losses (CECL), leases, hedging and long-duration insurance...
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November 18, 2019, 07:12 AM
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The Financial Accounting Standards Board (FASB) approved an Accounting Standards Update (ASU) to provide temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial...
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November 14, 2019, 07:05 AM
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The Financial Accounting Standards Board has extended the implementation deadline for several accounting standards, giving many U.S. companies additional time to prepare, the Wall Street Journal reported.FASB on Wednesday approved its proposals for...
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October 17, 2019, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would grant private companies, not-for-profit organizations and certain small public companies additional time to implement FASB standards on...
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August 16, 2019, 07:30 AM
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The Financial Accounting Standards Board plans to propose delaying effective dates for four key standards for certain groups of financial statement preparers after a series of votes taken at a board meeting last week, according to the Journal of...
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July 23, 2019, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would address issues raised by stakeholders during the implementation of Accounting Standards Update No. 2016-13, Financial Instruments—Credit...
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June 28, 2019, 07:24 AM
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LeaseAccelerator released a new report analyzing the financial reports and disclosures of S&P 500 companies that have adopted the new lease accounting standards. Reporting a collective total of $503 billion in operating lease liabilities and $69...
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June 26, 2019, 06:30 AM
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As U.S. finance companies prepare for major changes in accounting requirements for calculating credit losses, they can benefit from hard lessons learned by international equipment finance businesses that have already tackled similar new standards...
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April 30, 2019, 07:17 AM
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LeaseAccelerator announced the results of the its third annual Progress Report on ASC 842, which focuses exclusively on U.S.-based private companies and their readiness for the new lease accounting standards. The deadline for most U.S.-based private...
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April 11, 2019, 07:20 AM
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Nearly half of public company executives see no slowdown ahead in the time and effort to be spent on compliance with the new lease accounting standards issued by the Financial Accounting Standards Board and the International Accounting Standards...
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April 02, 2019, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that addresses two lessor implementation issues and clarifies that lessees and lessors are exempt from a certain interim disclosure requirement associated...
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March 07, 2019, 07:15 AM
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LeaseAccelerator has developed a testing application called the Lease Accounting Validator that automates the testing of leases under the new ASC 842 and IFRS 16 standards, as well as frozen GAAP. With the initial deadlines passed on Jan. 1, public...
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February 08, 2019, 07:15 AM
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LeaseQuery announced another year of record growth in 2018, with its year-over-year revenue growth reaching 708 percent. The company’s extraordinary growth was propelled by the timeliness of LeaseQuery’s solution, as companies prepare to comply with...
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January 24, 2019, 07:00 AM
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LeaseAccelerator announced that more than 50 Oracle-centric companies have selected its SaaS application to comply with the new IFRS 16 and ASC 842 standards. LeaseAccelerator offers a global lease accounting engine and dedicated subledger that can...
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January 21, 2019, 07:10 AM
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New standards for lease accounting became effective on Jan. 1 for companies with calendar year ends – but research from KPMG shows that some organizations have fallen behind with their projects and will now be using interim solutions to enable...
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January 11, 2019, 07:25 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) expected to reduce lessor’s implementation and ongoing costs associated with applying the new leases standard. The ASU also clarifies a specific lessor...
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December 12, 2018, 07:19 AM
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The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) that amends the transition requirements and scope of the credit losses standard issued in 2016. “Since issuing the credit losses standard, the FASB staff...
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November 19, 2018, 07:00 AM
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Fleet Advantage President and Chief Financial Officer Brian Holland, is presenting at this year’s Equipment Leasing and Finance Association’s (ELFA) 57th Annual Convention in Phoenix. Holland is addressing the Tax Reform and FASB accounting changes...
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October 16, 2018, 07:05 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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The Equipment Leasing and Finance Association in September filed a formal Comment Letter with The Financial Accounting Standards Board on proposed amendments to the new lease accounting standard. The Proposed Accounting Standards Update, Leases...
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September 12, 2018, 07:03 AM
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The Financial Accounting Standards Board (FASB) issued a proposal that would reduce costs and ease implementation of the Leases standard for financial statement preparers. The proposal would also clarify a specific requirement in the standard related...
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August 14, 2018, 07:20 AM
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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that reduces costs and eases implementation of the leases standard for financial statement preparers. “The targeted improvements in the ASU address areas our...
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July 31, 2018, 07:17 AM
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LeaseAccelerator announced national consulting and talent solutions firm, Vaco, has joined its global alliance program. The new alliance will help companies accelerate adoption of the new lease accounting standards, ASC 842 and IFRS 16. The new...
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June 13, 2018, 07:10 AM
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PowerPlan, a lease accounting software firm, has announced a strategic technology partnership with LEVERTON, an AI-based document and data abstraction platform. The partnership, which involves the product integration of PowerPlan and LEVERTON, allows...
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June 01, 2018, 07:00 AM
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Although the deadlines to adopt the Financial Accounting Standards Board's new lease accounting standard draw closer, many firms have yet to approach the starting line. A Robert Half and Protiviti survey of finance leaders found 44 percent of...
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May 25, 2018, 07:15 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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The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that improves financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and...
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June 22, 2016, 07:15 AM
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