• ASC 842 FASB Proposes to Improve Discount Rate Guidance for Lessees for Not Public Business Entities

    On June 16 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would improve discount rate guidance for lessees that are not public business entities. Private companies, not-for-profit organisations, and employee would benefit from the plans. ASC 842 allows private companies to make an accounting optional policy election to use a...

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Speed Up IFRS 16 ASC 842 with Oracle FCC Cloud
Business Process Management | Leasing & Finance | Technology Consulting

Speed Up IFRS 16 ASC 842 with Oracle FCC Cloud

As the deadline to the new lease accounting standards IFRS 16 ASC 842 looms, compliance is at the top of finance managers’ agendas. To comply with the new guidelines, organisations will have to change the way leases are recorded and processed, as the new standards increase complexity, requiring that operating leases now be reflected on…

New Lease Accounting IFRS 16 ASC 842 – Key Steps in the Final Sprint
Business Process Management | Leasing & Finance | Technology Consulting

New Lease Accounting IFRS 16 ASC 842 – Key Steps in the Final Sprint

With only months lefts before the new lease accounting standards ASC 842 and IFRS 16 become effective, many companies have not taken the steps needed to meet the deadline. In previous posts, we went through lists of questions to help CFOs assess in which stage of the transition plan the organisation is, transition guides and…

New Leases IFRS 16 ASC 842 – How to Achieve Compliance on Time
Leasing & Finance

New Leases IFRS 16 ASC 842 – How to Achieve Compliance on Time

The new lease accounting standards IFRS 16 and ASC 842 come into effect on January 2019, and as we are nearly halfway through 2018, organisations are running short on time to comply with the new guidance. In this post we will review some critical project considerations, so you can jump-start your implementation journey and finish…