Ideas & Insights

Constituents recently provided feedback to the FASB regarding issues encountered in the implementation of ASC 842.

We have updated our white paper, which provides an overview of lessor accounting under ASC 842 for financial institutions.

The GASB recently issued guidance on the accounting for subscription-based information technology arrangements.

On May 20, 2020, the FASB approved one-year effective date deferrals for certain entities for ASC 606 and ASC 842.

Due to the coronavirus, the FASB recently proposed a one-year effective date delay for certain entities for ASC 606 and ASC 842.

FASB to propose deferring the effective dates of ASC 606 for private franchisors and ASC 842 for certain entities.

The GASB recently proposed amendments to enhance the framework in its Concepts Statement for notes to the financial statements.

The Governmental Accounting Standards Board (GASB) proposed guidance to clarify, explain or elaborate on recent GASB Statements.

FASB votes to defer the effective dates of leases, CECL and hedging for certain entities and insurance for all entities.

We recently published an high-level summary of ASC 842, Leases, and an in-depth guide to lessee accounting under ASC 842.

The GASB recently issued an implementation guide to provide guidance related to GASB Statement No. 87, Leases.

In July, the GASB issued an Exposure Draft to propose guidance addressing various accounting and financial reporting issues.