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7 Jun 2019

what are the similarities and differences between leases and other means of property acquisition? How can these similarities and differences be reported in the financial statements?

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Jarrod Robel
Jarrod RobelLv2
9 Jun 2019

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“On November 11, 2015, the FASB voted to proceed with finalizinga new lease accounting standard. Public entities are required toadopt the new leases standard for reporting periods beginning afterDecember 15, 2018.”https://www.aicpa.org/InterestAreas/FRC/AccountingFinancialReporting/leases/Pages/Leases.aspx

The International Accounting Standards Board (IASB) issued IFRS16, Leases.

Do you think managers were being less than ethical in reportingcapital leases?

What is the potential impact on financial reporting?

Why do you think the two regulatory bodies changed the leasereporting requirements?

What are the similarities and differences between the twostandards?

“On November 11, 2015, the FASB voted to proceed with finalizinga new lease accounting standard. Public entities are required toadopt the new leases standard for reporting periods beginning afterDecember 15, 2018.”https://www.aicpa.org/InterestAreas/FRC/AccountingFinancialReporting/leases/Pages/Leases.aspx

The International Accounting Standards Board (IASB) issued IFRS16, Leases.

Do you think managers were being less than ethical in reportingcapital leases?

What is the potential impact on financial reporting?

Why do you think the two regulatory bodies changed the leasereporting requirements?

What are the similarities and differences between the twostandards

What are the requirements to become CPA in Texas and in NewMexico? What are the similarities/differences between both states (Texas and New Mexico) to become CPA?

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