In 2016, the Financial Accounting Standards Board and the International Accounting Standards Board released new accounting standards, ASC 842 and IFRS 16, which change the way organizations are required to recognize lease assets and liabilities on the balance sheet and disclose key information about rental agreements. With the new standards due to go into effect …

Three-quarters of companies find the new financial accounting standards board’s lease accounting standard more complex than expected. The FASB standard, published in 2016, requires organizations that lease assets to recognize assets and liabilities on the balance sheet for the rights and obligations created by these leases. For some companies, this has meant the need to …

Our featured position this week is as Head of M&A Accounting at Pipaya in Vienna, Virginia. Position: Mergers & Acquisitions Accounting Manager Site: Vienna, Virginia Employer: Pipaya Conditions: Bachelor’s or master’s degree in accounting; CPA license; 4 – 8 years of customer service or industry work experience, preferably in a Big 4; Prior experience in …

Q. What are the main changes that the new rules will introduce? JK: In developing the new standard, the FASB decided that the types of items and transactions currently eligible for hedge accounting would continue to be eligible under the amendments to the next standard. The issues the board considered in this project are expected …

A new accounting standard on share-based payments that creates volatility in effective corporate tax rates may mislead investors who use companies’ financial statements to make decisions, analysts warn. By linking earnings to stock prices, the standard can cause a company’s effective tax rate and other important financial figures to fluctuate. While many businesses today see …

Significant changes to accounting standards in 2018 and upcoming changes to lease accounting could result in a substantial adjustment from nonprofits, writes Christopher Edwards, director of corporate and audit services at HLB Mann Judd. In what has been described by many as the most significant change in accounting standards since the adoption of International Financial …

A new US accounting standard that makes it easier to recognize hedges is likely to encourage more companies to hedge. The Financial Accounting Standards Board voted last month to finalize the new hedge accounting standard, and the final standard is expected to be released in August. Companies interested in using the new standard will not …

As mandated by regulators, Sealed Air is implementing the new standard for accounting for leases on time. The standard will come into force on January 1, 2019 for public companies and one year later for private companies. The implementation forces public companies to restate 2017 and 2018 and private companies to restate 2019. Sealed Air …

In one of the region’s largest employee theft cases, a Cargill accountant at the Port of Albany admitted on Monday that she stole more than $ 3.1 million from the in 10 global agriculture giant years. Diane L. Backis, 50, of Athens, caused losses of at least $ 25 million to Cargill, the largest private …

Successful business management requires an eye to the future and a willingness to implement change with thoughtful planning. Adding bookkeeping and accounting services can increase business revenue and provide your clients with more options to run their business with a higher level of satisfaction. Leave it to the pros First, there is a paradigm that …