Accounting & Auditing Update

FASB has taken another step to make the adoption of the huge new standard on lease accounting a little simpler—this time for lessors.

FASB has finalized an enormous simplification of the pending new lease accounting standard, permitting companies to forego historic presentations.

The Financial Accounting Standards Board has finalized a number of improvements to its new guidance on lease accounting, which public companies are working to adopt in 2019.

Companies are telling the SEC they are still having trouble getting IT systems in place that can put leases on corporate balance sheets as required in 2019.

Companies still have a long way to go to be ready for new lease accounting rules that take effect in 2019, according to a recent KPMG poll.

FASB has finalized a change to the pending new lease accounting standard meant to make it easier for companies to transition to the new requirements.

The Financial Accounting Standards Board is preparing to propose a modification to the pending lease accounting standard to amend the transition guidance.