Explore latest insights, tips, and trends on transition accounting from Nakisa
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
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
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.
The Financial Accounting Standards Board, or FASB, has made decisions it hopes will reduce costs and ease the burden for companies working to adopt new lease accounting rules known as ASC Topic 842. In response to feedback about the effort required to reflect the new
The new lease accounting standards, IFRS 16 and ASC 842, are the result of a joint effort between the IASB and FASB to meet the objective of improved transparency, comparability and financial reporting requirements.
As the go-live date for the new lease standards (ASC 842 & IFRS 16) is approaching fast, businesses should consider the practical expedients available to ease the burden of adoption and transition.
The post announces the release of Nakisa Lease Administration version 5.1, which delivers several new enhancements including improved reporting capabilities, new user management features for roles and audit trails, and updates to support stronger compliance with lease accounting standards like IFRS 16 and ASC 842.
