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[ … ]
Author:
Nicole Maneval is a Senior Manager for BeachFleischman PC’s Accounting and Assurance Department. She has provided accounting, auditing and financial statement services for a variety of not-for-profit and privately held businesses with over nine years of public accounting experience.
