Are you “reasonably certain” you have FASB
lease requirements solved?
ManagePath™ meets and reports on all the FASB lease requirements for:
- Real Estate Leases
- Equipment Leases
- Any Lease or Owned Asset
Fischer can help you identify the lease and help categorize, abstract, manage and report on all your leases company-wide.
Fischer White Papers
ASC 842 Lease Accounting Quantitative Disclosure Requirements for Tenants You Need to Know
AUTHOR: Michael Nichols,
Chief Financial Oﬃcer
It’s been a little over one year since the Financial Accounting Standards Board (FASB) released the new ASC 842 and 23% of organizations have yet to assess the impact of changes.
Under ASC 842, which takes effect for publicly traded companies in 2019 and for private companies in 2020, businesses will be required to include operating lease commitments and the related right-of-use assets as part of their reported debts and assets.
Norwalk, CT, June 6, 2018—Financial Accounting Standards Board (FASB) Chairman Russell G. Golden today announced the appointment of Eric C. West, director of accounting policy for Amazon.com, Inc., to the Emerging Issues Task Force (EITF).
FASAC members observed that the enactment of the Tax Cuts and Jobs Act on December 22, 2017, resulted in many challenges in companies’ financial reporting, particularly (1) in areas where further clarifications to the tax law were needed and (2) in deploying the internal and external resources to account for, and provide disclosure about, their current and deferred income taxes.
Revenue Recognition of Grants and Contracts by Not-for-Profits (NFPs)—FASB staff provided a brief overview of the main provisions in the proposed Accounting Standards Update, Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, and discussed feedback received from comment letter respondents.
Financial Accounting Standards Board (FASB) today announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2018 GAAP Financial Reporting Taxonomy. The FASB also announced that the SEC has accepted the 2018 SEC Reporting Taxonomy (SRT), which is new this year.