The updated lease accounting standard is currently in effect for private companies. After several postponements during the pandemic, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with […]
Category: Leases
Private companies: Are you on track to meet the 2022 deadline for the updated lease standard?
Updated accounting rules for long-term leases took effect in 2019 for public companies. Now, after several deferrals by the Financial Accounting Standards Board (FASB), private companies and private not-for-profit entities […]
Blockchain Beckons Businesses … Still
The term and concept known as “blockchain” is hardly new. This technology surfaced more than a decade ago. Bitcoin, the relatively well-known form of cryptocurrency, has gotten much more attention […]
The Tax Rules For Deducting The Computer Software Costs Of Your Business
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others? Then […]
Lease or Buy? Changes to Accounting Rules May Change Your Mind
The rules for reporting leasing transactions are changing. Though these changes have been delayed until 2021 for private companies (and nonprofits), it’s important to know the possible effects on your […]
Get ready: New lease rules for GAAP-compliant companies
Does your construction company follow U.S. Generally Accepted Accounting Principles (GAAP)? If so, there’s an important deadline coming up later this year that you should start thinking about right now. […]
Let’s talk about leases: New accounting standard to usher in significant changes
If your construction company leases assets and it follows U.S. Generally Accepted Accounting Principles (GAAP), an important development occurred earlier this year. The Financial Accounting Standards Board (FASB) issued its […]