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FASB Wish List In-Depth Part 6

Toward the end of 2020, we published a Lease Accounting Holiday Wish List for organizations that still need to adopt ASC 842, IFRS 16, and GASB 87. This is the sixth in a series of articles to provide detail for each of those wish list items. 6: Willingness to Listen to Experts The old lease … Continued

FASB Wish List In-Depth Part 2

Toward the end of 2020, we published a Lease Accounting Holiday Wish List for organizations that still need to adopt ASC 842, IFRS 16, and GASB 87. This is the second in a series of articles to provide detail for each of those wish list items.

FASB Wish List In-Depth Part 1

Toward the end of 2020, we published a Lease Accounting Holiday Wish List for organizations that still need to adopt ASC 842, IFRS 16, and GASB 87. This is the first in a series of articles to provide detail for each of those wish list items.

With Short-Term Leases, What Could Go Wrong?

Thanks for the great feedback on my last post on short-term leases, I received a few questions about this statement on potential negative impacts, “Signing short-term leases exposes a lessee to tremendous risk in retaining the underlying asset, and to predict the cost of that lease.” I’ll expand on those two risks here.

Rent Concession

Relief or No Relief?

In April, the Financial Accounting Standards Board (FASB) provided a Q&A document regarding relief for the rent concessions negotiated from the COVID-19 pandemic. As some of those concessions may be expiring, I’d like to revisit the topic and update some earlier suggestions I made.