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New FASB Standard Clarifies Lease Accounting Issues

FASB addressed two lessor implementation issues and clarified an exemption for lessors and lessees from a certain interim disclosure requirement associated with adopting the board’s new lease accounting standard. To read the full article in the Journal of Accountancy, click: New FASB Standard Clarifies Lease Accounting Issues. ...

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Lease Accounting 2018 Update

Overview—Putting it on the Balance Sheet In February 2016, the FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842). The existing standard has been criticized because its bright line classification criteria enabled entities to structure leases in such a way as to avoid putting them on the balance sheet. The new standard aims to improve and simplify the financial reporting for leases and ...

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Revenue Recognition: What’s an Analyst to Do?

The focus of this post is not to comprehensively explain the new revenue recognition standard.  Instead, we examine one public company’s experience with the transition (Workday) and then highlight a few areas that may be of interest to analysts, finance managers, and interested onlookers from a valuation perspective. To read the full article in Mercer Capital's Financial Reporting Blog, click: Revenue Recog ...

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FASB Issues New Standard for Lease Accounting

Expanding the Lessors Qualitative and Quantitative Disclosures In February 2016, the FASB issued Accounting Standards Update (ASU) 2016 – 02, Leases (Topic 842). The existing standard has been criticized because its bright line classification criteria enabled entities to structure leases in such a way as to avoid putting them on the balance sheet. The standard aims to improve and simplify the financial repo ...

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Selected Accounting Standards Update

Evolving Accounting Standards for CPAs Wiley author, Joanne Flood, reviews three 2015 Accounting Standards Updates (ASUs). Those reviewed are ASU 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items,; ASU 2015-02, Amendments to the Consolidation Analysis; and ASU 2015-03, Simplifying the Prese ...

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Selected Accounting Standards Update

Evolving Accounting Standards for CPAs Wiley author Joanne Flood reviews three significant Accounting Standards Updates (ASU).  First, she reviews ASU 2014–08, issued in April 2014. This ASU focuses on Reporting [for] Discontinued Operations.  This ASU changes the criteria for determining which disposals can be presented as discontinued operations.  In the remaining portion of the article, she summarizes ch ...

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FASB Proposals Provide Exceptions for Private Companies for Fair Value Measurements

A help or hinderance? On July 1, 2013, FASB issued exposure drafts calling for public commentary on three proposals that address private company stakeholder concerns. Two proposals involve accounting for identifiable intangible assets and goodwill acquired in business combinations. In this article, Mark Zyla analyzes the proposed changes, including potential concerns, and their far-reaching impact on the in ...

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