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Lease Accounting Standard Impact

Publication | Nov 18, 2019
More About | Government Contracting | Assurance | Lease Accounting

Government contractors, particularly those with significant operating lease activity under current lease accounting guidance, can take advantage of the delayed effective date of ASU 2016-02 to prepare for implementation.​

The Impact of the Lease Accounting Standard on Construction Companies

Publication | Nov 18, 2019
More About | Construction | Assurance | Lease Accounting

On Nov. 15, 2019, the FASB announced a delay in the effective date of the ASU for non-public business entities, who are now required to apply ASU 2016-02 for reporting periods beginning after Dec. 15, 2020.

FASB Finalizes Effective Date Delays for Major Accounting Standards

Alert | Nov 15, 2019
More About | Agribusiness | Banking | Construction | Dealerships | Education | Energy | Financial Services | Government Contracting | Healthcare | Hospitality & Restaurants | Insurance | Manufacturing & Distribution | Not-for-Profit | Private Client Services | Private Equity | Professional Services | Public Sector & Government | Real Estate | Retail | Technology & Life Sciences | Transportation & Logistics | Assurance | Lease Accounting | Performance & Growth | Risk & Regulatory | CECL

Today, the Financial Accounting Standards Board (FASB) issued two Accounting Standards Updates (ASUs) that finalize various effective date delays for standards on current expected credit losses (CECL), leases, hedging, and long-duration insurance contracts.

Lease Accounting – Understanding the Implementation of GASB 87

Publication | Oct 11, 2019
More About | Not-for-Profit | Public Sector & Government | Assurance | Lease Accounting | Performance & Growth | Risk & Regulatory

GASB 87 has been a significant topic of conversation for many organizations, including adaptation and implementation of the single model for accounting and reporting. In this article, we cover the major changes required by the new standard as well as possible complexities that governments may face as they work toward compliance with the new lease standard.

Third Quarter 2019 Accounting & Assurance Update

Alert | Sep 16, 2019
More About | Assurance | Lease Accounting | Risk & Regulatory | CECL

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our clients in the current reporting period.

Lease Accounting | Part 4: Determining the Lease Term

DHG TV | Jul 02, 2019
More About | Assurance | Lease Accounting

Determining the Lease Term for Lease Accounting (ASC Topic 842)

Lease Accounting | Part 3: Lease and Non-lease Components and Determining the Discount Rate

DHG TV | Jul 02, 2019
More About | Assurance | Lease Accounting

Lease and Non-lease Components and Determining the Discount Rate for Lease Accounting (ASC Topic 842)

Lease Accounting | Part 2: Transition Practical Expedients

DHG TV | Jul 02, 2019
More About | Assurance | Lease Accounting

Transition Practical Expedients for Lease Accounting (ASC Topic 842)

Lease Accounting | Part 1: How to Get Started

DHG TV | Jul 02, 2019
More About | Assurance | Lease Accounting

How to Get Started with Lease Accounting (ASC Topic 842)

First Quarter 2019 Accounting & Assurance Update

Alert | Apr 04, 2019
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our clients in the current reporting period.

Transition to ASC Topic 842, Leases

Publication | Apr 01, 2019
More About | Assurance | Lease Accounting

The purpose of this document is to illustrate a comprehensive example of how to transition from current GAAP (ASC 840) to the new lease accounting standard (ASC 842). This example uses a single lease example, rather than a portfolio of leases, to illustrate the accounting under current guidance, the transition entry to ASC 842, and go forward accounting for leases that existed at the effective date.

FASB Accounting Standards Update 2019-01 Provides Clarity on Certain Leasing Standard Implementation Issues

Publication | Mar 25, 2019
More About | Assurance | Lease Accounting | Risk & Regulatory

On March 5, 2019 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-01, Leases (Topic 842): Codification Improvements. The update includes amendments that address issues brought to FASB’s attention by stakeholders about implementation issues. The following points are addressed specifically in the update:

Broker-Dealers: Impact of the New Lease Standard (ASC 842) on Net Capital

Publication | Mar 21, 2019
More About | Broker-Dealers & Registered Investment Advisors | Financial Services | Lease Accounting | Performance & Growth | Risk & Regulatory

Beginning Jan. 1, 2019, broker-dealers are required to reflect operating leases on their balance sheets through the capitalization of a right-of-use asset and corresponding lease liability under Accounting Standards Update No. 2016-02, Leases.

Leases: Not Just for the Footnotes Anymore

Publication | Jan 11, 2019
More About | Manufacturing & Distribution | Assurance | Lease Accounting

Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-02 Leases (Topic 842) is a new standard that will govern the accounting for lease contracts beginning with the 2019 c

Implementation Considerations for Leases: Initial Direct Costs

Publication | Jan 03, 2019
More About | Financial Services | Regional and Community Financial Institutions | Lease Accounting

As financial institutions work toward successful implementation of Accounting Standards Codification Topic 842, Leases (ASC 842), one area that may be of particular importance is accounting for the in

Fourth Quarter 2018 Accounting & Assurance Update

Alert | Dec 20, 2018
More About | Assurance | Advisory | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our cl

Third Quarter 2018 Accounting & Assurance Update

alert | Sep 18, 2018
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our cl

Lease Update: Impact to Dealerships

Publication | Aug 28, 2018
More About | Dealerships | Lease Accounting | Performance & Growth

In February, 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standard Update (ASU 2016-02) that amends the accounting guidance on leases. The guidance defines new principles

Second Quarter 2018 Accounting & Assurance Update

alert | Jun 22, 2018
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our cl

First Quarter 2018 Accounting & Assurance Update

alert | Apr 13, 2018
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our cl

Fourth Quarter 2017 Accounting & Assurance Update

alert | Dec 18, 2017
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our cl

Accounting and Assurance 2017 Year End Update: Private Company Edition

alert | Dec 15, 2017
More About | Audit, Reviews & Compilations | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

This document is intended to summarize select assurance and accounting standard setting activities that may have an impact on 2017 year-end private company financial reporting. For the purpose of thi

Third Quarter 2017 Accounting & Assurance Update

alert | Sep 25, 2017
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect o

Three New Accounting Standard Implementation Deadlines Are Approaching Quickly – Are You Prepared?

| Jul 12, 2017
More About | Regional and Community Financial Institutions | Revenue Recognition | Lease Accounting | Risk & Regulatory

Three new accounting standards that will significantly impact financial institutions - revenue recognition, leases, and the current expected credit loss (CECL) model standards - are fast approaching, and their adoption could have significant financial and operational impacts. To prepare for implementation, audit committees and management should consider the following topics and monitor progress.

Second Quarter 2017 Accounting & Assurance Update

alert | Jun 28, 2017
More About | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect o

First Quarter 2017 Accounting, Reporting and Auditing Developments

alert | Apr 10, 2017
More About | Manufacturing & Distribution | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect o

Accounting and Assurance Year End Update: Private Company Edition

alert | Jan 13, 2017
More About | Audit, Reviews & Compilations | Assurance | Revenue Recognition | Lease Accounting | Performance & Growth | Risk & Regulatory

This document is intended to summarize select accounting standard setting activities that may have an impact on 2016 year-end private company financial reporting. For the purpose of this publication, the term “private company” is used on the basis that the referenced entity is not a Public Business Entity, or otherwise would meet public company reporting requirements under U.S. GAAP.

Fourth Quarter 2016 Accounting, Reporting and Assurance Developments

alert | Dec 19, 2016
More About | Audit, Reviews & Compilations | Assurance | Revenue Recognition | Lease Accounting | Risk & Regulatory

The developments included in this Accounting and Assurance (A&A) Update are intended to be a reminder of recently issued accounting and auditing standards and other guidance that may affect our clients in the current reporting period.

Leases: The New Standard

DHG TV | Jul 11, 2016
More About | Assurance | Lease Accounting

On February 25, 2016, the Financial Accounting Standards Board issued a new standard that will govern the accounting for lease contracts beginning with the 2019 calendar year-end for public companies

(P)Lease Help! Understanding and Preparing for the New Lease Standard

Publication | Feb 29, 2016
More About | Global and National Financial Institutions | Manufacturing & Distribution | Regional and Community Financial Institutions | Assurance | Risk Advisory | Lease Accounting

On February 25, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, a new standard that will govern the accounting for lease contracts for public co

The Proposed Lease Accounting Standard – A Lessee Perspective

Publication | Jul 07, 2015
More About | Financial Services | Global and National Financial Institutions | Regional and Community Financial Institutions | Risk Advisory | Lease Accounting

On August 17, 2010, FASB and the IASB jointly issued a proposal for a new lease accounting standard that would require most leases to be recorded on the balance sheet. The effort is to increase transp