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 ...

A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most ...

FASB continued its efforts to improve its new lease accounting standard, issuing minor amendments, 16 targeted changes, and a proposal designed to reduce costs and make implementation easier for ...

FASB issued a proposal Monday that is designed to reduce costs and ease implementation of the new lease accounting standard for lessors Proposed Accounting Standards Update, Leases (Topic 842): Narrow ...

The Financial Accounting Standards Board’s new leasing standard will have a major impact on lessees, but its origins can be traced back to the old rules. What used to be called operating leases are ...

Rochester Institute of Technology adopted the Financial Accounting Standards Board (FASB) new accounting guidance on leases FASB Accounting Standards Codification Section 842 ("ASC 842") on July 1, ...

Companies that own large pieces of equipment often choose to lease that equipment to other businesses. The company, or lessor, reviews the terms of each lease to determine how to record it in ...

Leases are agreements that transfer the right to use property as a temporary form of ownership or use. Leases are temporary in scope, and the property rights revert to the lessor unless the ...