The Financial Accounting Standards Board (FASB) today 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 estate, airplanes, and manufacturing equipment. The changes are significant and follow on the heels of similar international guidelines recently announced […]
It’s been years, but now, finally! Read More »
The International Accounting Standards Board (IASB) just issued its new rules on lease accounting, and in the U.S., the Federal Accounting Standards Board (FASB) is about to do the same. The biggest change by IASB is for lessees, no more with there be operating leases separate from finance leases. All leases go on the balance
Is it a lease? New rules from IASB Read More »
If you’re involved in any form of leasing, you are undoubtedly aware that there’s a huge change underfoot in how leases are accounted for, both by the lessor and the lessee. On Jan 13, 2016, the International Accounting Standards Board (IASB) issued the long-awaited lease accounting standard that it has been developing for over a
FASB Rule Changes for Lease Accounting Read More »
