How to Start Lease Accounting Sooner
A 2018 survey by PwC indicated that nearly one-third of companies making significant changes to their lease accounting systems were unsure or did not think they would make the effective date of the new standards.
Lease Accounting
Explore latest insights, tips, and trends on lease accounting from Nakisa
3 Ds to Compliance and Beyond with the New Lease Accounting Standards
The clock is ticking as organizations get set to meet the requirements of new lease accounting standards. Issued in February 2016, FASB Accounting Standards Codification (ASC) Topic 842, requires lessees to report assets and liabilities related to leases of one year or more, on
Starting Off on the Right Foot: The Importance of Comprehensive, Accurate Data Collection
The importance of comprehensive accurate lease data collection on lease accounting under IFRS 16 and ASC 842 standards
Your Guide to Being a SAPPHIRE High-flyer
Verify! Your tickets, schedules, and agenda. Things can change last minute and you don’t want to be late, miss an important meeting, or worse still – to find that a meeting has been cancelled and you now have a large block of time to kill
Choosing the right IFRS 16 adoption method – Retrospective or modified retrospective
Choosing the right adoption method for new accounting standards is crucial for compliance and financial accuracy. Delve into the advantages and challenges of each method, and determine which method best fits your business needs for a smooth transition.
Accelerating Compliance: Can the Cloud Help You Make Your Compliance Deadlines?
In 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued new requirement standards for lease accounting: IFRS 16 & ASC 842, which must be implemented by 2019.
Benefits and challenges of the 4-4-5 calendar
Explore how the 4-4-5 calendar can streamline financial processes, improve budget accuracy, and simplify fiscal period comparisons. While offering significant benefits, it also introduces challenges, such as system adjustments and complexities in transitioning from a traditional calendar. Dive into the details and learn how to
How to identify embedded leases within contracts
This article addresses the challenges of identifying embedded leases within contracts when adopting the IFRS 16 and ASC 842 lease accounting standards. It emphasizes the need for robust processes and tools to determine if a contract contains an embedded lease according to the requirements of
Adoption Planning and Audit Readiness Go Hand in Hand
Only a few weeks remain before public companies face the next quarterly requirement to disclose their progress in adopting new lease accounting rules, IFRS 16 and/or ASC 842. With that clock ticking, now is an opportune time to assess not only the status of your
