Private companies: Have you implemented the new lease accounting rules? If not, you can’t afford to procrastinate any longer. Here’s what you’ll need to do before year end and how it may impact your financials.
Articles by Nicole Maneval
Nicole Maneval is a Senior Manager for BeachFleischman’s Accounting and Assurance Department. She has provided accounting, auditing, and financial statement services for a variety of nonprofit and privately held businesses with over nine years of public accounting experience.
Industry Experience
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New Lease Accounting – ASC 842
The Financial Accounting Standards Board (FASB) has issued a new Accounting Standards Update, ASC 842: Leases, that addresses accounting for leasing transactions under U.S. Generally Accepted Accounting Principles (U.S. GAAP). ASC 842 was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities for substantially all leases. The new rules[ … ]
