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On January 25, the FASB officially amended the new lease accounting standard, ASC 842, providing an optional practical expedient for transition. If elected, a preparer can continue to apply its current accounting policy to land easements existing before they implement ASC 842. Some preparers...
January 30 2018
On Jan. 5, the FASB released an exposure draft for two "targeted improvements" to the new ASC 842 lease accounting standard. I had mentioned one of them in a prior blog post. Both would be optional. The proposed improvements are:
1) Option to apply the transition provisions of the new standard at...
January 09 2018