Operating leases have long been a common mechanism for companies to access and use assets without owning them outright. Historically, many of these leases were kept off the balance sheet, limiting ...

ASC 606 requires companies to identify all goods and services within each contract and determine which of them constitute separate revenue streams. Businesses always have plenty to worry about in Q4 ...

FASB took another step forward in its plan to codify U.S. GAAP with the release Friday of an exposure draft on changes to the GAAP hierarchy. The 20-page proposal would modify FASB Statement no. 162, ...

The US GAAP lease accounting standard, ASC 842, requires that all leases, both operating and finance, are moved on-balance sheet unless the lease term is less than 12 months. The on-balance sheet ...

When the calendar flipped from 2021 to 2022, your private company didn’t only enter yet another year. Instead, it entered when the latest Financial Accounting Standards Board (FASB) ASC 842 compliance ...

WOODBRIDGE, N.J.--(BUSINESS WIRE)--Visual Lease, the #1 lease optimization software, now offers complimentary workshops to help organizations achieve and maintain compliance with the new lease ...

This past Monday, November 5, 2018, the Financial Accounting Standards Board (“FASB”) published much-sought after guidance regarding the recognition of franchise fees under Accounting Standard ...