Posts in

Archives


The deadline for implementing the new accounting standards for IFRS 16 / ASC 842 leases is fast approaching. The new standards will require organizations to declare and disclose all rental obligations for buildings, offices, motor vehicles and other equipment, and reclassify them as assets and liabilities. Does your organization have an implementation plan and adequate …

As a chartered accountant, I know accounting standards are one of the first and most important subjects taught in the field. They are essentially a guide for a fair and faithful presentation of the financial statements. Over the years, accounting standards have undergone many changes. When I studied we were taught Accounting Standards (AS) which …

ATLANTA – (COMMERCIAL THREAD) – LeaseQuery, a leading provider of comprehensive lease accounting software, today announced the hiring of Abdi Ali as technical lead of lease accounting. Ali’s primary responsibility will be to provide LeaseQuery clients with a comprehensive understanding of current rental accounting standards (FASB Topic 840) and help them move on to new …

As businesses look for new ways to grow in a competitive business environment, accounting firms can position themselves as more than just the traditional provider of tax or audit assistance. Accountants become trusted advisors whom their clients rely on for a wider range of business advice. A strong Accounts Receivable Services (CAS) offering allows companies …

The lease accounting standard that state-owned enterprises are set to comply with by the end of the year presents them with certain technological obstacles, according to a new report from Big Four Deloitte. The challenges include new data elements, data hosted in various systems, relevant information spread across multiple leases, high volume of data fields, …

The numbers show that 57 percent of small businesses don’t use an accountant, could this have anything to do with the business failure rate in the United States? The point is, some types of businesses need an accountant more than others. Here, we’ve compiled a list of the top 10 most in need of these …

Many companies will face major obstacles in implementing the new lease accounting standards, ASC 842 of the FASB and IFRS 16 of the IASB. 15, 2019, for non-public companies. The standards will fundamentally change accounting by requiring that both simple rental and finance rental be entered on the balance sheet of a company. The changes …