Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

Businesses are downsizing their office space and renegotiating leases as employees work from home, and they need to look at how they’re accounting for the leases under the new rules. Processing ...

Moving the measurements of operating leases from the footnotes of GAAP financial statements under FASB ASC Topic 840, Leases, to the balance sheet as assets and liabilities under Topic 842, Leases, ...

CFOs are finding the scrutiny of new accounting rules is helping them streamline their lease management and save money, but there are challenges. Despite being given three full years to prepare for ...

Public companies’ required implementation of FASB’s new lease accounting standard in 2019 means that financial statement auditors need to be prepared to make new judgments. Although the private ...

Certain private companies, nonprofits, and tax-exempt organizations that lease equipment have been given an important advantage in implementing new accounting rules—more time. The Financial Accounting ...

Any business that leases anything for an extended period of time — generally, more than one year — will be impacted by a proposed new accounting standard. “This may appear arcane to some, but the new ...

NEW YORK, Aug 15 (Reuters) - U.S. and international accounting rule makers are planning to propose an overhaul of lease accounting as soon as Tuesday, in a move expected to affect some $1.2 trillion ...

With calendar year-end Form 10-K filings almost completed, you may have noticed the addition of Accounting Standards Update No. 2016-02 “Leases (Subtopic 842)” to the MD&A subsection addressing new ...