Lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months under a new financial reporting ...

With the first year of the new lease accounting standards implementation complete, organizations find themselves at a critical juncture — the commencement of "day two" accounting. While the initial ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. The Financial Accounting Standards Board’s (FASB’s) new ...

On August 17, the FASB and IASB released the final version of the exposure draft on lease accounting that significantly changes the way entities account for leases. Their exposure draft, Leases, ...

You may have heard about a proposal that would change how leases are accounted for on corporate balance sheets. If your company leases or finances equipment, you should be aware of how the proposal ...

For capital leases, a lessee recognizes lease assets and liabilities on the balance sheet. For operating leases, a lessee does not recognize lease assets or liabilities on the balance sheet. The ...

The updates to Financial Reporting Standard 102 (FRS 102), set to take effect for accounting periods beginning on or after 1 January 2026, mean many ...

Our August column ("Debunking lease propaganda by CPAs in Congress, and others, too," page 22) dismantled an early barrage of the kind of self-serving arguments the Financial Accounting Standards ...

Moving the measurements of operating leases from the footnotes of GAAP financial statements under FASB ASC Topic 840, Leases, to the balance sheet as assets and liabilities under Topic 842, Leases, ...