All Topic 842 articles
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ArticleFASB update improves discount rate guidance under leases standard
The Financial Accounting Standards Board issued an update to its leases standard regarding discount rate guidance for lessees that are not public business entities.
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ArticleFASB passes on third leases delay
The Financial Accounting Standards Board declined providing private companies and certain not-for-profit organizations a third date delay to its leases standard, which is scheduled to take effect fiscal years beginning after Dec. 15, 2021.
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ArticleChanging accounting standards driving financial process remediations
In response to new standards affecting leases, revenue recognition, and credit losses, public companies have significantly changed their financial processes in the past year and are not done yet, according to data from Deloitte.
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ArticleFASB issues standard update for variable lease payments
The Financial Accounting Standards Board finalized an update to its leases standard targeting sales-type leases with variable lease payments.
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ArticleFASB advances targeted updates to leases standard
The Financial Accounting Standards Board has tentatively ruled to move forward with a pair of updates to its leases standard aimed at certain sales-type leases and discount rates for lessees.
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ArticleFASB proposes three amendments to leases standard
The Financial Accounting Standards Board proposed three amendments to its leases standard prompted by post-implementation feedback from stakeholders.
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ArticleTakeaways from FASB leases roundtable
FASB held a public roundtable on implementation of the new lease accounting standard, discussing technical issues that are challenging for practitioners and where additional or amended guidance might be needed.
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ArticleFASB finalizes leases, rev rec delays prompted by coronavirus
The Financial Accounting Standards Board finalized effective date delays of one year to standards affecting revenue recognition and leases in response to the coronavirus pandemic.
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ArticleFASB Q&A addresses lease concessions related to coronavirus
FASB staff has issued interpretative guidance in the form of a question-and-answer document addressing accounting for lease concessions related to economic effects of the coronavirus pandemic.
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ArticleFASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
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ArticleFASB issues improvements to financial instruments guidance, including CECL
FASB has issued an accounting standards update amending several financial instruments topics in order to provide more clarity and improve on such standards as current expected credit losses.
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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
Lease accounting adoption taps corporate resources
The year-end push to adopt new lease accounting is taking more time and more money than companies expected, according to a new poll by EY.
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Blog
FEI group provides guides on leases, CECL controls
FEI’s corporate reporting group has developed its own guides for preparers on how to assure sound controls with major new accounting adoptions.
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Blog
Lease accounting adoption still behind, PwC poll says
More than 15 percent of public companies surveyed in late October had not yet begun implementing the new lease accounting standard that takes effect Jan. 1.
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Blog
Banks appeal to Treasury to intervene on CECL
Banks are asking Treasury to intervene on CECL and delay it, worried implementation will threaten financial stability in a future recession.
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Article
Companies launch year-end push to new lease rules
The Q4 dash to new lease accounting is on, and it’s looking like some companies will not flip the switch to new systems by the Jan. 1 effective date.
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Blog
Lease tools emerge to aid in last-minute adoption work
With less than three months until new lease accounting rules take effect, new tools are emerging to help companies that are still working on implementation.
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Blog
Lease adoption work will spill into 2019, poll suggests
Plenty of companies adopting new lease accounting rules for a Jan. 1, 2019, effective date are likely to continue their implementation work even into the first quarter.
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Blog
FASB proposes lease rule simplification for lessors
FASB has taken another step to make the adoption of the huge new standard on lease accounting a little simpler—this time for lessors.