All ASC 842 articles
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Article
Survey: Lease accounting implementation at critical point
The “2022 Global Lease Accounting Survey” from EY and LeaseAccelerator covers how public and private companies address U.S. and international accounting requirements and challenges they have had and expect to face post-implementation.
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Article
Real estate rationalization programs on rise amid COVID
As the COVID-19 pandemic continues and businesses make strategic changes in response, one of the primary areas of focus is managing where employees will work and evaluating real estate portfolios.
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Resource
Lease Accounting Solution Transition (LAST) Planner
Did you rush to meet lease accounting requirements (ASC 842, IFRS 16) in time for the compliance deadline? You’re not alone.
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Resource
White paper: ASC 842 Lease Accounting Standard Handbook
Even though your deadline for complying may have moved out, it is time to start getting your organization ready to meet the new ASC 842 compliance standard for private organizations.
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Resource
White paper: The Dramatic Impact of the New Lease Accounting Standards
The new lease accounting standards – ASC 842, IFRS 16 and GASB 87 – impact companies of all sizes and industries.
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Article
Benchmarking report: New lease accounting rules having seismic effect on balance sheets
In LeaseQuery’s first benchmarking analysis of lease liabilities, it found balance sheet liabilities increased nearly 16 times as operating leases came onto the balance sheet for the first time upon adoption of ASC 842.
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Article
Study: Adopting lease accounting could hurt stock prices
A new study from Florida International University professors says retailers such as Urban Outfitters, Foot Locker, and Abercrombie & Fitch—that have a significant use of operating leases—reported abnormal stock returns when they disclosed earnings.
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Article
FASB finalizes standard delays, including CECL
The Financial Accounting Standards Board has finalized long anticipated delays in effective dates for several accounting standards, including the controversial rule on credit losses.
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Article
FASB votes to approve standard delays, including CECL
FASB has voted to approve a previously proposed delay to its upcoming rule change for credit losses, in addition to standards for hedging and leasing.
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Article
Lease rule implementation still a slog, poll says
Halfway through the first year reporting under new lease accounting rules, only one-fourth of public companies said their implementations were complete, according to a recent Deloitte poll.
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Article
FASB formally proposes accounting change delays, including CECL
FASB is formally proposing major changes to effective dates for several significant accounting standards, including a CECL delay for smaller reporting companies.
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Article
Still more work ahead on leases, says new survey
Midway through the first year of complying with new lease accounting rules, only a little more than half of public companies said they completed their transition.
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Article
FASB allows optionality in certain lease receivables
FASB has issued new lease accounting guidance allowing options for how to reflect uncertain operating lease receivables, which is sure to produce reporting differences.
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Article
Estimation vs. precision: tension in accounting grows
It’s more than big change prompting major deferrals for pending accounting rules. It’s also about the growing tension between estimation and precision.
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Article
FASB to push CECL to 2023 for small public companies
FASB has signaled it plans to extend CECL for smaller public companies to 2023, along with delaying a number of other effective dates.
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Article
Software problems exacerbate lease compliance
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
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Article
SEC takes questions on knock-on effects of new lease rules
SEC staff members met with the Center for Audit Quality’s SEC Regulations Committee to acknowledge concerns and answer questions associated with new lease accounting rules.
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Article
First-quarter reports add lease assets, liabilities
First-quarter reports reflecting new lease accounting rules are beginning to trickle into the market, adding billions in assets and liabilities to balance sheets.
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Article
Companies tie loose ends on leasing, prepare ongoing accounting
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
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Blog
LeaseAccelerator app automates testing of leases
Software provider LeaseAccelerator has developed an application called the Lease Accounting Validator that automates the testing of leases under the new ASC 842 and IFRS 16 standards.