Many claim that "principles-based" accounting standards are superior to "rules-based" standards. For example, the chair of the International Accounting Standards Board, Sir David Tweedie, made this ...

International Financial Reporting Standard (IFRS) 16 came into effect on January 1. The impact of the new standard can be felt across all industries, particularly those that rely heavily on rentals ...

With the new Financial Accounting Standards Board (FASB) lease accounting standard — Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), many companies are grappling with the transition ...

Many public companies are not finished implementing FASB’s new lease accounting standard, and one-third of private companies say they are unprepared to comply with the new standard, according to a new ...

Private companies are facing a deadline on implementing the new lease accounting standard, but recent updates in the rules could make an impact on their financial statements and disclosures. Other ...

Proposed lease accounting rules could have a serious impact on businesses that have significant leasing activities. A draft standard for lease accounting developed by the U.S. Financial Accounting ...

The Financial Accounting Standards Board and its sister organization, the International Accounting Standards Board, are working jointly on reviewing changes to the current U.S. Financial Accounting ...

This story appears in the March 14 print edition of Transport Topics. Long-awaited nationwide lease accounting standards will require fleets to take a close look at their accounting procedures to ...

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 ...