Take Charge of Lease Management & Compliance  

A Roadmap to ASC 842 Compliance In a recent survey conducted by the Deloitte Center for Controllership, only 20 percent of finance leaders said they were “prepared” or “very prepared” to comply with ASC 842. It is the most significant change to lease accounting in 30 years — impacting every company that has leases, whether real estate, equipment, printers, furniture, etc. Compliance will require broad organizational programs and significant changes to lease management processes and systems. Get up to speed with this white paper, courtesy of Bloomberg Tax.

ASC 842: Private Companies Have Another Year To Deal With Compliance, And They'll Probably Need It The Financial Accounting Standards Board has given private companies and non-profits in the U.S. until December 15, 2020 to start treating their operating leases on their balance sheets as liabilities.

GASB.org Governmental Accounting Standards Board (GASB) establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP). The GASB standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA).

FASB.org Financial Accounting Standards Board (FASB) is the independent, private-sector, not-for-profit organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA).