The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) intended to improve financial reporting about leasing transactions. The ASU affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. The changes are significant and follow on the heels of similar international guidelines recently announced […]

The International Accounting Standards Board (IASB) just issued its new rules on lease accounting, and in the U.S., the Federal Accounting Standards Board (FASB) is about to do the same. The biggest change by IASB is for lessees, no more with there be operating leases separate from finance leases. All leases go on the balance […]