Regardless of where you are in the ASC 842 implementation process, Armanino can help you achieve a smooth transition. Contact us for more information on lease accounting, including our Lease Accounting Gap Assessment. Download White PaperStay In Touch Sign up to stay up-to-date with the latest...
The original effective date for private companies and non-profit organizations was set for reporting periods beginning after December 15, 2019. However, in the summer of 2019, as a result of feedback from public companies on the complexities of implementation, FASB delayed it in order to give t...
resource, and accounting challenges stemming from COVID-19 prior to executing their Topic 842 implementation plan. Though many organizations are balancing resources delicately in light of the COVID-19 pandemic, the deferral also provides organizations with extra time to develop their implementation...
KPMG specialists provide an in-depth look at ASC 842 implementation Read more Leases: Executive summaries To help you understand the impact of the new leases standard, ASC 842, read KPMG's overviews of the leases guidance. Read more
Benefits of New Standards and Implementation According to data from The VLDI, 71% of private companies believe ASC 842 presents an opportunity for their business. The new lease accounting standards encourage organizations to adopt a centralized view of their lease portfolio, providing them with an ...
ASC 842 Frequently Asked Questions What is ASC 842? When was the ASC 842 effective date? How does my organization become ASC 842 compliant? What is ASC 842 implementation for private companies? ASC 842 Content ASC 842 Summary ASC 842 Balance Sheet ASC 842 Leasehold Improvements...
In response to the issuance of the Standard, the AICPA established sixteen industry task forces. The task forces are charged with identifying implementation issues. Scope The scope of the Standard is wide. It affects all public companies, nonpublic companies, and nonprofit organizations. The Standard...
the Board had previously scheduled a roundtable discussion to address implementation by public companies to assist private companies in their efforts and to determine whether additional practical expedients or other amendments are warranted ...