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, ...

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 ...

Moving the measurements of operating leases from the footnotes of GAAP financial statements under FASB ASC Topic 840, Leases, to the balance sheet as assets and liabilities under Topic 842, Leases, ...

With the first year of the new lease accounting standards implementation complete, organizations find themselves at a critical juncture — the commencement of "day two" accounting. While the initial ...

Sustaining compliance after day two requires a rigorous focus on optimizing processes for ongoing management of lease accounting data and entries. As leases evolve over their lifetimes, organizations ...

Picture this scenario: A Thai production company (the purchaser) enters into an agreement with a gas supplier to supply a minimum quantity of gas needed in its production process for a specific period ...