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| asc 842 lease accounting standard: Lease Accounting with SAP Hanno Hofmann, Pamela Lim, Joy Mabborang, Louis Teunissen, 2018 |
| asc 842 lease accounting standard: A Comparison of IFRS Standards and U. S. GAAP: Bridging the Differences Bob Uhl, 2019-02-22 This publication discusses differences that are commonly found in practice between the International Accounting Standards Board's IFRS® Standards and the FASB's U.S. GAAP. The significance of these differences to a given entity will vary depending on such factors as the nature of its operations, the industry in which it operates, and the accounting policy choices it has made. |
| asc 842 lease accounting standard: Accounting and Valuation Guide: Assets Acquired to Be Used in Research and Development Activities AICPA, 2016-11-07 This new guide provides guidance and illustrations regarding the initial and subsequent accounting for, valuation of, and disclosures related to acquired intangible assets used in research and development activities (IPR&D assets). This is a valuable resource for preparers of financial statements, auditors, accountants and valuation specialists seeking an advanced understanding of the accounting, valuation, and disclosures related to acquired IPR&D assets. |
| asc 842 lease accounting standard: The Why and How of Auditing Charles Hall, 2019-06-25 This book assists auditors in planning, performing, and completing audit engagements. It is designed to make auditing more easily understandable. |
| asc 842 lease accounting standard: Contractual Management Ralph Schuhmann, Bert Eichhorn, 2019-10-24 The Concept Contractual Management offers a holistic approach to managerial decision-making based on contracts or business processes that are related to contracts. It explains management from the point of view of the contract, just as it interprets the contract from the point of view of management. Thus, the approach highlights the great inherent potential of contracts for managing companies, transactions and business relationships. The book addresses students as well as practitioners and gives insights into the usage of contracts to manage companies or relationships. It covers contract handling from preliminary deliberations to negotiations, implementation, and all the way to the evaluation of the contract within the company. Furthermore, it provides competencies to design and implement a contract and to organize the relevant processes. The Content In Part 1, the book explains the theoretical foundations of Contractual Management; in Part 2, the application of the approach is illustrated through case studies which cover various sectors, industries, company sizes, contract types, and management situations. Theory part: Contractual Management – A Holistic Approach to a Diverse Issue. Case study part: 11 case studies arranged according to specific contract-related topics: Information and Communication – Change – Enterprise Networks – Conflict – Accounting and Financing – Legal Compliance – Societal Steering. The Editors Professor Dr. Ralph Schuhmann: After holding a senior management position in industry, Ralph Schuhmann now teaches Business Law at Ernst-Abbe-Hochschule in Jena, Germany. He is the scientific director of the Contractual Management Institute at SRH Hochschule Berlin and has published various articles on contract law and contract management. Professor Dr. Bert Eichhorn: Before his appointment as professor for International Law and Business Law at SRH Hochschule Berlin, Bert Eichhorn worked as a legal consultant at the EU Parliament and as a lawyer. He has published numerous articles in national and international scientific journals in the area of contract management and international law. He is the managing director of the Contractual Management Institute at SRH Hochschule Berlin. |
| asc 842 lease accounting standard: Fair Value Measurements International Accounting Standards Board, 2006 |
| asc 842 lease accounting standard: IFRS 16 and Corporate Financial Performance in Italy Elisa Raoli, 2021-04-27 This book presents an empirical analysis on how the new lease accounting model of IFRS 16 affects financial statements and performance of Italian companies. It discusses the theoretical framework of the off-balance sheet financing with a particular focus on the off-balance sheet lease contracts. Previous research provided controversial results about the potential impacts on the companies’ financial statement and performance deriving from leases capitalization. The application of different methodological approaches based on estimation of the expected effects resulted in inconclusive results. This book aims to measure the real impacts deriving from the post-implementation of the new lease accounting standard (IFRS 16) on companies’ financial statements, economic and financial performance, on market reactions and on financial statement’ users. |
| asc 842 lease accounting standard: Understanding Business Valuation Gary R. Trugman, 2008 |
| asc 842 lease accounting standard: UK Financial Statements - Presentation and Disclosure Requirements Steve Collings, 2016-10-28 Accounting standards in the UK and Republic of Ireland are going through a radical change. This book outlines the changes concerned, how they affect companies, what differences exist between the new and the old rules and what practitioners and directors should be aware of in producing financial statements for statutory purposes. To aid this theory, numerous worked examples and illustrative model accounts are included to help preparers understand how these changes should be implemented.Practitioners and preparers of accounts need to be fully versed in the changes to accounting practice and the stumbling blocks to avoid under the new rules. Each chapter contains a 'Pitfalls to avoid' section as well as a 'Chapter summary' to help preparers to understand the key differences. Invariably, if the accounts themselves are incorrect due to a misunderstanding of the new treatments, the resulting tax will be incorrect.UK Financial Statements: Presentation and Disclosure Requirements provides a comprehensive overview of the new reporting regimes in the UK and Republic of Ireland. Written by an expert in UK company financial reporting issues, it includes illustrative financial statements, model disclosures and the structure of the primary statements under new UK GAAP andEU-adopted IFRS. The appendices also contain useful disclosure checklists.The book is ideal for: Practitioners dealing with all types of companies Tax advisers Company directors Students studying for professional examinationsCoverage includes:Introduction;Overview of the revised Companies Act 2006;Summary of new UK GAAP and emerging issues and how to deal with them;Overview of small and micro-entity reporting requirements;Sample micro-entity financial statements;Sample small company financial statements;Sample medium-sized company financial statements;Sample large (unlisted) company financial statements;Sample EU-adopted IFRS financial statements;Abridged and adapted financial statements;Consolidated financial statements - overview of the requirements;Sample consolidated financial statements prepared to UK GAAP;Sample consolidated financial statements prepared to EU-adopted IFRS;Auditing financial statement disclosures.Appendices include: Disclosure checklists for micro-entities, small companies, medium-sized companies, large companies and EU-endorsed IFRS. |
| asc 842 lease accounting standard: Sales of Personal Property Ernest Bancroft Conant, 1914 |
| asc 842 lease accounting standard: Accounting and Valuation Guide AICPA, 2019-09-16 Developed for preparers of financial statements, independent auditors, and valuation specialists, this guide provides nonauthoritative guidance and illustrations regarding the accounting for and valuation of portfolio company investments held by investment companies within the scope of FASB ASC 946, Financial Services —Investment Companies, (including private equity funds, venture capital funds, hedge funds, and business development companies). It features16 case studies that can be used to reason through real situations faced by investment fund managers, valuation specialists and auditors, this guide addresses many accounting and valuation issues that have emerged over time to assist investment companies in addressing the challenges in estimating fair value of these investments, such as: Unit of account Transaction costs Calibration The impact of control and marketability Backtesting |
| asc 842 lease accounting standard: Off-Balance Sheet Activities Joshua Ronen, Anthony Saunders, Ashwinpaul C. Sondhi, 1990-11-30 The objective of Off-Balance Sheet Activities is to gain insights into, and propose meaningful solutions to, those issues raised by the current proliferation of off-balance sheet transactions. The book has its origins in a New York University conference that focused on this topic. Jointly undertaken by the Vincent C. Ross Institute of Accounting Research and New York University's Salomon Center for the study of Financial Institutions at the Stern School of Business, the conference brought together academic researchers and practitioners in the field of accounting and finance to address the issues with the broad-mindedness requisite of a group whose approaches to solutions are as different from each other as their respectively theoretical and applied approaches to the disciplines of finance and accounting. The essays are divided into two sections. The first covers issues surrounding OBS activities and banking and begins with a brief introduction that places the essays into context. OBS activities and the underinvestment problem, whether loan sales are really OBS, and money demand and OBS liquidity are examined in detail. Section two, which also begins with a brief introduction, focuses on issues of securitized assets and financing. A report on recognition and measurement issues in accounting for securitized assets is followed by three separate discussion essays. Other subjects covered include contract theoretic analysis of OBS financing, the use of OBS financing to circumvent financial covenant restrictions, and debt contracting and financial contracting. The latter two contributions are also followed by discussion essays. This unique collection of papers will prove to be an interesting and valuable tool for accounting and finance professionals as well as for academics involved in these fields. It will also be an important addition to public, college, and university libraries. |
| asc 842 lease accounting standard: Aircraft Valuation David Yu, 2020-10-23 This book is one of the first to explore aviation and aircraft leasing and its values establishing it as a standalone investable asset class within the larger real assets industry. Airplanes are a crucial but capital-intensive component of the global economy. The author, as an academic, researcher, appraiser, advisor and businessperson in the industry, bridges a gap in the existing literature with his analysis of the underlying aviation asset class return and risk profile. The book describes the characteristics, dynamics and drivers of the global, Asia and China specific aviation and leasing landscapes. Recent effects of COVID-19 on aviation and an analysis of the drivers affecting cross border mergers and acquisitions in the industry are also investigated. The book includes 20+ years of empirical aircraft valuation evidence and analysis of its characteristics establishing the aircraft and sub-segments as asset classes. In addition, characteristic comparisons to other real asset subclasses and benchmarks are examined. This book will be of interest to academics, financiers, investors, industry participants and more general aviation enthusiasts. |
| asc 842 lease accounting standard: FDIC Quarterly , 2009 |
| asc 842 lease accounting standard: Information Choice in Macroeconomics and Finance Laura L. Veldkamp, 2011-08-22 An authoritative graduate textbook on information choice, an exciting frontier of research in economics and finance Most theories in economics and finance predict what people will do, given what they know about the world around them. But what do people know about their environments? The study of information choice seeks to answer this question, explaining why economic players know what they know—and how the information they have affects collective outcomes. Instead of assuming what people do or don't know, information choice asks what people would choose to know. Then it predicts what, given that information, they would choose to do. In this textbook, Laura Veldkamp introduces graduate students in economics and finance to this important new research. The book illustrates how information choice is used to answer questions in monetary economics, portfolio choice theory, business cycle theory, international finance, asset pricing, and other areas. It shows how to build and test applied theory models with information frictions. And it covers recent work on topics such as rational inattention, information markets, and strategic games with heterogeneous information. Illustrates how information choice is used to answer questions in monetary economics, portfolio choice theory, business cycle theory, international finance, asset pricing, and other areas Teaches how to build and test applied theory models with information frictions Covers recent research on topics such as rational inattention, information markets, and strategic games with heterogeneous information |
| asc 842 lease accounting standard: Hospitality Financial Management Robert E. Chatfield, Michael C. Dalbor, Paul A. Willie, 2009 Hospitality Financial Management is an up-to-date finance text that offers hospitality students a uniquely Canadian introduction to financial management specifically for hospitality and tourism majors. The book uses hospitality examples throughout to cover concepts from a practical perspective, explaining and demonstrating the importance of financial management in the hospitality industry. |
| asc 842 lease accounting standard: A Tea Reader Katrina Avila Munichiello, 2017-03-21 A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on. |
| asc 842 lease accounting standard: Financial Accounting and Reporting Barry Elliott, Jamie Elliott, 2011 Financial Accounting and Reporting is the most up to date text on the market. Now fully updated in its fourteenth edition, it includes extensive coverage of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). This market-leading text offers students a clear, well-structured and comprehensive treatment of the subject. Supported by illustrations and exercises, the book provides a strong balance of theoretical and conceptual coverage. Students using this book will gain the knowledge and skills to help them apply current standards, and critically appraise the underlying concepts and financial reporting methods. |
| asc 842 lease accounting standard: Accounting and Corporate Reporting Soner Gokten, 2017-09-20 We have spent a great deal of time on the continued development of accounting and auditing standards, which are used as a primary component of corporate reporting, to reach today's financial reporting framework. However, is it possible to say that, currently, financial statements provide full and prompt disclosure? Or will they still be useful as a primary element with their current structures in corporate reporting? Undoubtedly, we are deeply concerned about these issues in recent times. This volume contains chapters to discuss the today's and tomorrow's accounting and corporate reporting phenomena in a comprehensive and multidimensional way. Therefore, this book is organized into six sections: Achieving Sustainability through Corporate Reporting, International Standardization, Financial Reporting Quality, Accounting Profession and Behavioral Aspects, Public Sector Accounting and Reporting, and Managerial Accounting. |
| asc 842 lease accounting standard: The Business Valuation Bench Book William J. Morrison, Jay E. Fishman, 2017-04-20 If you are an attorney or a judge navigating business valuation concepts and calculations in financial experts' reports, you'll want this practical reference guide on your bookshelf. If you are a valuation expert, you will want to see what the attorneys and judges are reading. The Business Valuation Bench Book gives you the guidance and tools to better assess the facts and analysis made by business valuation experts. Written by top financial experts William J. Morrison and Jay E. Fishman who have appeared in front of hundreds of judges, frequently in high-profile cases, this must-have resource addresses fundamental business valuation concepts in an easy-to-use format. Take advantage of the authors' decades of experience with in-depth insight into the business valuation process and detailed explanations of valuation approaches. With 12 appendices, two thorough case studies, and suggestions on the questions to ask valuation experts, you will be able to confidently compare and critique valuation expert reports. |
| asc 842 lease accounting standard: Audits of Property and Liability Insurance Companies , 2000 |
| asc 842 lease accounting standard: Interim Financial Reporting International Accounting Standards Committee, 1997 |
| asc 842 lease accounting standard: The Handbook of Equipment Leasing Shawn D. Halladay, 1995 |
| asc 842 lease accounting standard: Intermediate Accounting Donald E. Kieso, Terry D. Warfield, Irene M. Wiecek, Nicola M. Young, 2007-09-04 Designed for use in an intermediate-level accounting course following the introductory course in accounting. |
| asc 842 lease accounting standard: Petroleum Accounting Dennis Jennings, John Brady, Rich Shappard, Craig Friou, 2020-06-30 This new edition covers many significant changes impacting the petroleum industry including important updates such as current industry practice issues from a proprietary survey conducted by the Institute of Petroleum Accounting, and practical guidance on new standards of revenue recognition, joint arrangements, consolidated financial statements, and disclosure of interests in other entities which are of critical importance to those involved or interested in the petroleum industry.New chapters covering midstream operations, master limited partnerships, and SEC considerations have been added. The updated text will also address numerous operational issues that continue to evolve with the demand for capital, inherent industry risks, and the impacts of product price fluctuation. |
| asc 842 lease accounting standard: The Economic Effects on Lessees of FASB Statement No. 13, Accounting for Leases A. Rashad Abdel-Khalik, 1981 |
| asc 842 lease accounting standard: Taxpayer's Comprehensive Guide to LLCs and S Corps Jason Watson, WCG Inc, 2021 This is our ninth edition (2021-2022 Edition). How can I avoid self-employment taxes? This simple question was the inspiration for creating an article describing the benefits of an S Corporation. That original article, which was about four pages long, quickly became a series of knowledge base posts on the WCG website. The articles touched on basic topics such as how to elect S Corp status, shareholder payroll, reasonable salary determination and liability protection. Those broad topics demanded much more information, both horizontally by spanning into more related issues, and vertically by digging deeper into the granular yet riveting levels of the tax code... -- |
| asc 842 lease accounting standard: Audit and Accounting Guide AICPA, 2019-11-12 The construction industry has seen significant changes in the past couple years. Whether you are in public accounting, performing assurance services, or operate in the industry, this guide has the information you need to perform at your best. Considered the construction industry standard resource, this 2019 edition features new accounting information and new auditing considerations, particularly with regards to considerations for FASB ASC 606. This guide is an indispensable reference document packed with information on new requirements and relevant changes to the FASB Accounting Standards Codification. From simple accounting to joint venture creation, this edition takes a deep dive into industry specific auditing procedures. Topics include: Practical tips and industry specific guidance; A detailed look at FASB ASU Nos. 2014-09, Revenue from Contracts with Customers, including new auditing considerations; An up-to-date look at the details of FASB ASU No. 2016-02, Leases |
| asc 842 lease accounting standard: Accounting Guide AICPA, 2019-10-22 It is critical to understand the complexities of the specialized accounting and regulatory requirements needed for the broker-dealer industry. This comprehensive guide has been designed to be beneficial for a wide range of professionals within the broker-dealer industry. Updates to this edition are to conform the content to current accounting standards and regulatory requirements. The updates include: SEC Release No. 34-86073, Amendment to Single Issuer Exemption for Broker-Dealers; ASU No. 2018-09, Codification Improvements; and, SEC Release Nos. 33-10532; 34-83875; IC-33203, Disclosure Update and Simplification. In addition, this edition features a new example disclosure note for revenue from contracts with customers, which has been added to the guide's illustrative financial statements and footnote disclosures. |
| asc 842 lease accounting standard: Auditing and Accounting Guide AICPA, 2019-06-21 A must-have resource for new FASB guidance From financial reporting to revenue recognition to grants and contracts, you have a lot going on in the not-for-profit financial arena right now. Whether you're already an expert in NFP audit and accounting standards or just getting started, we’ve got the practical guidance you need. This must-have resource for nonprofits accounting and auditing professionals is an essential reference which will assist you with the unique aspects of accounting and financial statement preparation and auditing for not-for-profit entities. The 2019 guide will help you do the following: Understand and implement recent updates and changes, including those related to financial reporting, revenue recognition, and grants and contracts Gain a full understanding of the accounting issues unique to not-for-profit entities A must-have resource for accounting and auditing professionals who work with nonprofits, this essential reference will assist in the unique aspects of accounting and financial statement preparation and auditing for not-for-profit entities. |
| asc 842 lease accounting standard: Audit and Accounting Guide Depository and Lending Institutions AICPA, 2019-11-20 The financial services industry is undergoing significant change. This has added challenges for institutions assessing their operations and internal controls for regulatory considerations. Updated for 2019, this industry standard resource offers comprehensive, reliable accounting implementation guidance for preparers. It offers clear and practical guidance of audit and accounting issues, and in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Topics covered include: Transfers and servicing; Troubled debt restructurings; Financing receivables and the allowance for loan losses; and, Fair value accounting This guide also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters. The financial services industry is undergoing significant change. This has added challenges for institutions assessing their operations and internal controls for regulatory considerations. Updated for 2019, this industry standard resource offers comprehensive, reliable accounting implementation guidance for preparers. It offers clear and practical guidance of audit and accounting issues, and in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Topics covered include: Transfers and servicing; Troubled debt restructurings; Financing receivables and the allowance for loan losses; and, Fair value accounting This guide also provides direction for institutions assessing their operations and internal controls for regulatory considerations as well as discussions on existing regulatory reporting matters. |
| asc 842 lease accounting standard: Audit and Accounting Guide: Property and Liability Insurance Entities 2018 AICPA, 2018-12-19 Get authoritative accounting and auditing guidance. Educate staff on the property and liability insurance industry, its products and regulatory issues, and the related transaction cycles an insurance entity is involved with. This guide contains updates on current GAAP and statutory accounting and audit guidance, as well as relevant guidance contained in standards issued through September 1, 2018 which have a major impact on insurance entities, including: FASB ASU No. 2016-01 and AICPA Q&A Section 7100.15: Insurance Companies and the Definition of Public Business Entity Revenue Recognition Implementation Issue: Considerations for Applying the Scope Exception in FASB ASC 606-10-15-2 and 606-10-15-4 to Contracts Within the Scope of FASB ASC 944 |
| asc 842 lease accounting standard: 2024-2025 CPA Exam Prep Sharon Hugh Patton, 2024-2025 CPA Exam Prep: 800 Financial Accounting and Reporting Practice Questions with Detailed Answers and Full Explanations, Including 2 Full-Length Practice Exams for the CPA Exam Are you preparing for the CPA Exam and feeling overwhelmed by the sheer volume of material covered in the Financial Accounting and Reporting (FAR) section? 2024-2025 CPA Exam Prep is here to help. This comprehensive study guide offers 800 meticulously crafted practice questions that mirror the style, difficulty, and structure of those you’ll encounter on the actual exam. Each question is accompanied by a detailed answer and full explanation, ensuring that you not only know the correct answer but also understand the reasoning behind it. This book is more than just a collection of questions—it's a complete resource designed to guide you through the FAR section with confidence. The practice questions cover all key topics, including financial reporting frameworks, various financial statement accounts, revenue recognition, leases, consolidations, and more. Additionally, the book includes two full-length practice exams, each structured to simulate the real testing experience. These exams provide an invaluable opportunity to assess your readiness, practice time management, and build the confidence needed to excel on exam day. Key features include: 800 Practice Questions: A broad range of questions that cover every aspect of the FAR section, designed to challenge your understanding and deepen your knowledge. Detailed Answers and Explanations: Comprehensive explanations for each question help you understand the concepts and avoid common pitfalls. Two Full-Length Practice Exams: Simulate the actual exam experience to test your readiness and improve your exam-taking strategies. Up-to-Date Content: Reflects the latest CPA Exam standards and financial accounting guidelines, ensuring you are studying the most relevant material. Whether you're studying for the CPA Exam for the first time or looking to refine your knowledge in the FAR section, this book is your essential companion. 2024-2025 CPA Exam Prep is designed to make your study process as efficient and effective as possible, helping you to approach the exam with confidence and achieve your goal of becoming a Certified Public Accountant. Equip yourself with the tools and practice you need to pass the FAR section of the CPA Exam and take the next step in your accounting career. |
| asc 842 lease accounting standard: Audit and Accounting Guide: Not-for-Profit Entities, 2018 AICPA, 2018-06-19 This AICPA Accounting and Auditing Guide is a must-have for the resource libraries of accounting and auditing professionals who work with not-for-profit organizations. This essential reference book assists accountants in the unique aspects of accounting and financial statement preparation and auditing for not-for-profit entities. Created with common errors and questions in mind, accountants benefit from not-for-profit industry-specific guidance on the issues they are likely to encounter this year. The 2018 edition includes guidance on financial reporting changes, reporting donated services between affiliated NFPs, split-interest agreements, contributions and grants, functional expenses and joint costs, and much more. This new edition provides a comprehensive discussion of FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities. The discussion includes highlights of the changes that will assist financial statement preparers with implementing the standard. The guide offers dual guidance throughout, providing readers with the “before-and-after” context to enhance their understanding of the changes, as well as two all-inclusive appendices. |
| asc 842 lease accounting standard: Audit and Accounting Manual AICPA, 2020-09-16 This comprehensive, step-by-step guide provides a plain-English approach to planning and performing audits. In one handy resource, you'll find applicable requirements and how-to advice. This edition includes updates for the issuance of SAS No. 133, Auditor Involvement with Exempt Offering Documents. Update boxes have been added for SAS No. 134, 137, 138 and 139. You’ll find illustrative examples, sample forms and helpful techniques ideal for small- and medium-sized firms. |
| asc 842 lease accounting standard: Investment Companies, 2019 AICPA, 2019-11-27 Whether you are a financial statement preparer or auditor, it is critical to understand the complexities of the specialized accounting and regulatory requirements for investment companies. Your industry standard resource, this 2019 edition supports practitioners in a constantly changing industry landscape. Packed with continuous regulatory developments, this guide covers: Authoritative how-to accounting and auditing advice, including implementation guidance and illustrative financial statements and disclosures; Details on the changes to illustrated financial statements and disclosures resulting from guidance that was recently-issued or became recently effective (for example, SEC's release, Disclosure Update and Simplification); 2019 updates include:References to appropriate AICPA Technical Questions and Answers that address when to apply the liquidation basis of accounting and appendices discussing the new standard for financial instruments, common or collective trusts and business development companies. Finally, this guide features a schedule of changes which identifies where to find updated content and the associated reasons for the changes. |
| asc 842 lease accounting standard: International GAAP 2018 Ernst & Young LLP, 2017-12-19 The essential guide to practical IFRS implementation, updated for 2018 International GAAP 2018 is the definitive reference for IFRS application around the world. Written by the expert practitioners at Ernst & Young, this invaluable resource provides both interpretation and practical implementation guidance for anyone applying, auditing, interpreting, regulating, studying, or teaching IFRS. Specific instruction written from a global perspective provides clarity on complex issues, and coverage of the latest changes ensures that you will apply the most current standards appropriately and effectively. Worked examples provide answers at a glance, and hundreds of illustrations from major companies’ financial reports demonstrate IFRS implementation and bring technical concepts to life. Countries around the world have adopted the International Financial Reporting Standards (IFRS), and in the US, foreign private issuers are allowed to report under IFRS without reconciling to US GAAP. This book provides the essential information practitioners need to correctly understand and apply these standards, using a clear, consistent approach to resolving global financial reporting issues under IFRS in real-world scenarios. Updated and expanded for 2018, this new edition allows you to: Get up to date on the newest amendments and interpretations issued in the past year Examine implementation issues caused by widespread adoption of IFRS 9, IFRS 15, and the upcoming adoption of IFRS 16 in 2019 Understand the new insurance contract standard IFRS 17, which solves the comparison problem of IFRS 4 Gain clarity and insight on practical matters involved with IFRS implementation This three-volume set provides the depth and breadth of coverage necessary, with financial instruments covered separately for greater ease of navigation. As the world’s most comprehensive reference for IFRS implementation, International GAAP 2018 is the resource no practitioner, regulator, student, or researcher should be without. For further information on the various digital versions which are available for this material please visit www.wileyigaap.com |
| asc 842 lease accounting standard: Employee Benefit Plans, 2019 AICPA, 2019-06-10 This guide is an ideal roadmap to compliance, giving auditors authoritative guidance, practical tips, and illustrative examples to help them at each stage of the audit. It is designed to bridge the gaps between the what, why, and how to satisfy auditor responsibilities. Key topics covered include: Essential guidance for application of GAAS in an EBP audit. References to authoritative accounting guidance for defined contribution (DC), defined benefit (DB) and health and welfare (HW) plans in FASB ASC Guidance on accounting, reporting and disclosure for EBP transactions not addressed in FASB ASC as supported by FinREC Use of a SOC 1 report Use of a specialist (including actuaries and appraisers) Forming an opinion and reporting on EBP financial statements (for full and limited scope EBP audits) Illustrative auditor communications and financial statements Explanation of pervasive regulatory requirements (DOL rules and regulations) |
| asc 842 lease accounting standard: International GAAP 2017 Ernst & Young LLP, 2017-01-06 IFRSs, the standards set by the International Accounting Standards Board (IASB), are complex and sometimes obscure. Understanding their implications and applying them appropriately requires something special; and that is why International GAAP® 2017 is the essential tool for anyone applying, auditing, interpreting, regulating, studying and teaching international financial reporting. It provides expert interpretation and practical guidance for busy professionals, and includes, in every chapter, detailed analysis of how complex financial reporting problems can be resolved appropriately and effectively. The International Financial Reporting Group of Ernst & Young includes financial reporting specialists from throughout the world. Complex technical accounting issues are explained clearly in a practical working context that enables immediate understanding of the point at issue. International GAAP® 2017 is the only globally focused work on IFRSs. It is not constrained by any individual country’s legislation or financial reporting regulations, and it ensures an international consistency of approach unavailable elsewhere. It shows how difficult practical issues should be approached in the complex, global world of international financial reporting, where IFRSs have become the accepted financial reporting system in more than 100 countries. This integrated approach provides a unique level of authoritative material for anyone involved in preparing, interpreting or auditing company accounts, for regulators, academic researchers and for all students of accountancy. All aspects of the detailed requirements of IFRS are dealt with on a topic-by-topic basis. Each chapter of International GAAP® 2017 deals with a key area of IFRS and has a common structure for ease of use: an introduction to the background issues; an explanation of relevant principles; a clear exposition of the requirements of IFRS; a discussion of the implications in practice and possible alternative solutions available; worked examples; extracts from real company accounts; a full listing of the required disclosures. “... an important part to play in the process of promoting consistent, comparable and high quality financial reporting under IFRSs ... a book that not only provides an analysis of the requirements of the standards and the principles that they expound, but also presents a unique explanation of how the standards should be interpreted and applied in practice.” - the Chairman of Trustees of the IASC Foundation “A standard reference work” - Financial Times “The definitive guide to financial reporting” - The Times |
| asc 842 lease accounting standard: Advances in Accounting Education Thomas G. Calderon, 2022-12-12 This 26th volume of Advances in Accounting Education features 14 peer-reviewed papers surrounding four themes: capacity building and governance; curriculum and pedagogical innovations; educational tax cases and tax literacy; information technology and the curriculum. |
Applying the new lease accounting standard - Deloitte United …
ASC 842 introduces a lessee model that brings most leases onto the balance sheet; aligns certain of the underlying principles of the lessor model with those in ASC 606, the FASB’s new …
BDO Leases Blueprint - BDO USA
Standards Update (ASU) 2016-02, Leases (Topic 842) (Accounting Standards Codification (ASC) 842). Under its core principle, a lessee recognizes a right-of-use (ROU) asset and a related …
A GUIDE TO LESSEE ACCOUNTING UNDER ASC 842 - RSM US
A GUIDE TO LESSEE ACCOUNTING UNDER ASC 842 Prepared by: Richard Stuart, Partner, National Professional Standards Group, RSM US LLP richard.stuart@rsmus.com, +1 203 905 …
Comprehensive Guide to Implementing the New Lease …
In February 2016, The Financial Accounting Standards Board (“FASB”) issued a new accounting standard, Leases (ASC 842). This new standard requires all leases with a term of more than …
ASC Topic 842: Lease Accounting Guide - Moss Adams
Compared with legacy lease accounting, ASC Topic 842 primarily changes the accounting for lessees, requiring lessees to record assets and liabilities on the balance sheet for almost every …
Leases: Overview of ASC 842 - whitepaper - RSM US
On its effective date, ASC 842 replaces the legacy U.S. generally accepted accounting principles (GAAP) for leases in ASC 840, Leases, for both lessees and lessors. As entities started …
Leases (Topic 842) - FASB
proposed Accounting Standards Update, Leases (Topic 840), and the 2013 proposed Accounting Standards Update, Leases (Topic 842). The Board decided that, consistent with all three …
ASC 842: Implementing the New Leasing Standard
Whether you work in industry or in public or private accounting, you will be affected by Accounting Standards Codification (ASC) Topic 842, Leases, which was added when the Financial …
Applying the new lease accounting standard - Deloitte United …
ASC 842 introduces a lessee model that brings most leases onto the balance sheet; aligns certain of the underlying principles of the lessor model with those in ASC 606, the FASB’s new …
THE NEW LEASE ACCOUNTING STANDARDS TOPIC 842
WHY IS THE NEW STANDARD NECESSARY? The old lease model was criticized for failing to meet the needs of users of financial statements The SEC issues a report on off-balance sheet …
ASC 842, LEASES - CapinCrouse LLP
The new standard updates the definition of a lease and now requires lessees to recognize substantially all leases on their statement of financial position by recording right-of-use asset …
LEASING STANDARDS OVERHAULED: An Overview of ASC …
February 2016. Accounting Standards Codification (ASC) Topic 842 – effective for most private entities for annual reporting periods beginning after Dec. 15, 2020 – is intended to increase …
Implementing the New Accounting Standard for Leases
contains these resources to help your organization understand and implement ASC 842, the new accounting standard for leases, efficiently and effectively: • Updated Key Lease Decision …
IMPLEMENTING ASC 842 - Armanino LLP
Under ASC 842, companies will now be required to recognize the majority of leases as assets and liabilities on their balance sheet for all financial reporting. The new standard also expands …
Financial institutions: Overview of lessor accounting under …
In February 2016, the FASB issued ASU 2016-02, its long-awaited final standard on the accounting for leases, which was codified in Topic 842, Leases, of the FASB’s ASC. On its …
Leases (Topic 842)
On February 25, 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing …
ASC 842: Implementing the new lease accounting standard
Under ASC 842, lessees will be required to recognize right-of-use assets and lease liabilities on their balance sheet for operating leases and disclose enhanced information about leasing …
Gearing up for the new lease accounting standard - Deloitte …
For private companies, the new lease accounting standard ASC 842 goes into effect for the calendar year starting January 1, 2021, and time to prepare is quickly running out.
Leases (Topic 842) - FASB
Since the issuance of Accounting Standards Update No. 2016-02, Leases (Topic 842), the Board has prioritized monitoring and assisting stakeholders with the implementation of Topic 842 …
PwC Leases guide - Viewpoint
The FASB’s new standard on leases, ASC 842, is already effective for public companies and is replacing today’s leases guidance for other companies in 2021. This guide discusses lessee …
Applying the new lease accounting standard - Deloitte United …
ASC 842 introduces a lessee model that brings most leases onto the balance sheet; aligns certain of the underlying principles of the lessor model with those in ASC 606, the FASB’s new …
BDO Leases Blueprint - BDO USA
Standards Update (ASU) 2016-02, Leases (Topic 842) (Accounting Standards Codification (ASC) 842). Under its core principle, a lessee recognizes a right-of-use (ROU) asset and a related …
A GUIDE TO LESSEE ACCOUNTING UNDER ASC 842
A GUIDE TO LESSEE ACCOUNTING UNDER ASC 842 Prepared by: Richard Stuart, Partner, National Professional Standards Group, RSM US LLP richard.stuart@rsmus.com, +1 203 905 …
Comprehensive Guide to Implementing the New Lease …
In February 2016, The Financial Accounting Standards Board (“FASB”) issued a new accounting standard, Leases (ASC 842). This new standard requires all leases with a term of more than …
ASC Topic 842: Lease Accounting Guide - Moss Adams
Compared with legacy lease accounting, ASC Topic 842 primarily changes the accounting for lessees, requiring lessees to record assets and liabilities on the balance sheet for almost every …
Leases: Overview of ASC 842 - whitepaper - RSM US
On its effective date, ASC 842 replaces the legacy U.S. generally accepted accounting principles (GAAP) for leases in ASC 840, Leases, for both lessees and lessors. As entities started …
Leases (Topic 842) - FASB
proposed Accounting Standards Update, Leases (Topic 840), and the 2013 proposed Accounting Standards Update, Leases (Topic 842). The Board decided that, consistent with all three …
ASC 842: Implementing the New Leasing Standard
Whether you work in industry or in public or private accounting, you will be affected by Accounting Standards Codification (ASC) Topic 842, Leases, which was added when the Financial …
Applying the new lease accounting standard - Deloitte United …
ASC 842 introduces a lessee model that brings most leases onto the balance sheet; aligns certain of the underlying principles of the lessor model with those in ASC 606, the FASB’s new …
THE NEW LEASE ACCOUNTING STANDARDS TOPIC 842
WHY IS THE NEW STANDARD NECESSARY? The old lease model was criticized for failing to meet the needs of users of financial statements The SEC issues a report on off-balance sheet …
ASC 842, LEASES - CapinCrouse LLP
The new standard updates the definition of a lease and now requires lessees to recognize substantially all leases on their statement of financial position by recording right-of-use asset …
LEASING STANDARDS OVERHAULED: An Overview of …
February 2016. Accounting Standards Codification (ASC) Topic 842 – effective for most private entities for annual reporting periods beginning after Dec. 15, 2020 – is intended to increase …
Implementing the New Accounting Standard for Leases
contains these resources to help your organization understand and implement ASC 842, the new accounting standard for leases, efficiently and effectively: • Updated Key Lease Decision …
IMPLEMENTING ASC 842 - Armanino LLP
Under ASC 842, companies will now be required to recognize the majority of leases as assets and liabilities on their balance sheet for all financial reporting. The new standard also expands …
Financial institutions: Overview of lessor accounting under …
In February 2016, the FASB issued ASU 2016-02, its long-awaited final standard on the accounting for leases, which was codified in Topic 842, Leases, of the FASB’s ASC. On its …
Leases (Topic 842)
On February 25, 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing …
ASC 842: Implementing the new lease accounting standard
Under ASC 842, lessees will be required to recognize right-of-use assets and lease liabilities on their balance sheet for operating leases and disclose enhanced information about leasing …
Gearing up for the new lease accounting standard - Deloitte …
For private companies, the new lease accounting standard ASC 842 goes into effect for the calendar year starting January 1, 2021, and time to prepare is quickly running out.
