All leases articles – Page 3
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Blog
FASB proposes lease accounting transition relief
FASB proposes a change to the new lease accounting standard taking effect in 2019 that promises to ease the implementation.
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ArticleLease accounting relief will ease adoption—but only a little
With work winding down to get ready for the massive shift in how to recognize revenue, the next major accounting change exercise still awaits—lease accounting.
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Blog
SEC hones in on non-GAAP in 2016 comment letters
The SEC focused its comment letters in 2016 on non-GAAP reporting more than any other topic, surpassing even MD&A, the perennial favorite area of focus.
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Blog
SEC tasks audit committees to set tone for accounting changes
Audit committees take note: SEC is putting a lot of faith in you to set the tone for corporate adoption of major changes in accounting requirements.
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Blog
FASB proposes little fixes to big rules on financial instruments, leases
FASB is proposing new clarifications to its previously issued standards on the recognition and measurement of financial instruments and on leases.
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Blog
Natural disasters raise accounting, reporting implications
Companies affected by recent natural disasters may need to consider the effects on their accounting, financial reporting, and tax compliance.
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Blog
Half say revenue rule is immaterial, one-fifth still evaluating
A PwC analysis shows about half of Fortune 500 companies expect revenue recognition changes to be immaterial, but nearly 20 percent are still evaluating.
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Blog
Board members wary of CAM disclosures in audit reports
Half of public company board members say critical audit matters will not make audit reports more useful to investors, but instead will make their jobs more difficult.
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Article
Four reasons companies are lagging in lease adoption, and how to get on track
Companies are slipping behind in implementing the new lease accounting standard, and the call for deferral in the effective date may be getting under way.
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Blog
FASB plans corrections to lease, financial instrument rules
FASB is planning a series of technical corrections on lease accounting and financial instruments, but it resisted the temptation to tweak revenue recognition any further.
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Article
Financial instrument rule plays second fiddle to bigger changes
As companies prepare for new revenue recognition and lease accounting standards, a new rule on how to classify and measure financial instruments is finding itself on the back burner.
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Blog
IOSCO joins call for disclosure on new accounting standards
International regulators, like SEC in the United States, are calling on companies to give plenty of disclosure about transition to new accounting standards.
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Article
Audit cost data hint at improvements in internal control
The newest data on audit costs suggest public companies, or at least the largest ones, might be getting a handle on internal control over financial reporting. Tammy Whitehouse reports.
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Article
Questions abound as companies adopt new lease accounting standard
The rise in questions on the new lease accounting standard suggest some companies are cracking the spine on that new rulebook, reports Tammy Whitehouse.
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Article
New accounting standard for leases brings numerous compliance concerns
As public companies face a 2019 deadline for a new accounting standard that brings leases onto corporate balance sheets, compliance officers will have to consider a long list of implementation decisions and business implications, says Tammy Whitehouse.
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Article
Accounting standards update brings lease contracts under the spotlight
Image: After years of reports that entities would one day be required to reflect all of their lease obligations on the balance sheet, companies finally have a major new accounting standard to adopt that will bring all but the tiniest assets and liabilities arising from lease contracts onto corporate balance ...
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Blog
Pressure builds on FASB as it finalizes lease standard
As the Financial Accounting Standards Board dries the ink on its pending new lease accounting standard that will bring lease assets and liabilities on to corporate balance sheets, more than a dozen trade and professional groups are making an eleventh-hour appeal for FASB to exempt private companies. The groups, which ...
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Article
Companies Prep for FASB’s New Take on Leases
Still knee-deep in preparing for the massive new revenue recognition standard, public companies have plenty of reason to start revving up now for another major accounting change on the horizon—the new leasing standard. “As soon as possible—even prior to the issuance of the new leases standard—preparers should consider creating a ...
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Article
Auditing World Braces: More ICFR Attention, Big Rule Changes
Image: Expecting a letup in the scrutiny of internal controls? Forget it: 2016 promises to be another intensive year for ICFR as all sides sharpen their understanding of the subject. “Internal control over financial reporting will remain on everyone’s radar,” says Cindy Fornelli, head of the Center for Audit Quality. ...
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Blog
FASB Seats Transition Group for Impairment, Not Leases
Image: Building on the success of the revenue recognition transition group, FASB is planning a new group to facilitate implementation of the pending financial instrument impairment standard. In recent remarks, FASB Chairman Russ Golden said the TRG has already met to identify any key issues. The board is putting the ...
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