For years, accounting teams have been burdened with the cumbersome and error-prone process of manual lease accounting. Teams often spend 4+ hours per lease reading through lengthy documents, ...

Last year, the Financial Accounting Standards Board (FASB) provided private companies with an extra year to adopt lease accounting standard ASC 842. When this was announced, 63.8% of surveyed private ...

The previous launch of the RentRedi Accounting Suite featured a set of financial tools that gives independent landlords access to expense tracking, Profit & Loss documentation, Schedule E summaries , ...

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 ...

On May 10, the Financial Accounting Standards Board and the International Accounting Standards Board issued revised exposure drafts calling for significant changes in lease accounting. These drafts ...

The recent leasing rules from the Financial Accounting Standards Board and the Governmental Accounting Standards Board are turning out to be harder to follow than many organizations expected.

In February 2016, FASB issued new lease accounting requirements in Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Under its core principle, a lessee recognizes a right-of-use (ROU) ...

Rochester Institute of Technology adopted the Financial Accounting Standards Board (FASB) new accounting guidance on leases FASB Accounting Standards Codification Section 842 ("ASC 842") on July 1, ...

With the new Financial Accounting Standards Board (FASB) lease accounting standard — Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), many companies are grappling with the transition ...

If you feel like the new lease accounting standard has been years in the works, you’re right. The good news is, for better or for worse, the new standard is here. Most private companies are now ...

As a result of Covid-19 and the changing landscape related to leases, private companies have received more time to prepare for and adopt the new lease accounting standards in their financial reporting ...