In February 2016, the Financial Accounting Standards Board
(FASB) issued Accounting Standards Update (ASU) 2016-02 (“ASC 842”) Leases, which provides new guidelines that change the accounting for leasing arrangements. The new leasing standard becomes effective in fiscal years beginning after December 15, 2018
This recent article in Accounting Today provides a useful summary of the key issues that companies are facing as they get ready for compliance with IFRS 16 and ASC 842.
A recent article in Accounting Today provides an excellent view of how companies in many industries are moving toward compliance with the new lease accounting standards, ASC 842 and IFRS 16.
Nakisa, Bramasol's partner for leasing solutions, has announced general availability of the new 4.0 version of Lease Administration by Nakisa.
Bramasol, the leader in compliance and finance innovation solutions, has announced a new, purpose-built product that reduces complexity and implementation costs, to give companies across a variety of industries a ready-to-deploy solution for lease accounting disclosure reporting and compliance.
The customer is a Leading Global Organization and Multinational Retailing Corporation with annual revenues in excess of US$480 billion and which is one of the largest private employer in the world with over 2 million employees. As an international company, our customer is impacted by the new lease regulations ASC842 and IFRS16 that will take effect from January 2019.
A recent article in Accountancy Daily looks at the important challenges that companies are facing as they prepare for implementation of new lease accounting standard, IFRS 16.
This recent article in Global Finance provides an excellent overview of challenges facing companies regarding compliance with new Lease Accounting standards, ASC 842 & IFRS 16, "Companies Brace to Put Leases on Balance Sheet".
As the January 2019 deadline for implementing new lease accounting standards (ASC 842 and IFRS 16) approaches, FASB has been addressing a number of issues that arise with regard to transitioning from current regulatory practices to the new standards.
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