New Accounting Rules for Off-Balance Sheet Assets

Posted by & filed under Accounting Principles, Advanced Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting.

New accounting rules governing off-balance-sheet transactions went into effect for most companies in January 2010. The rules force companies to put assets, like mortgage servicing rights, back on their balance sheets. Questions: 1. What financial accounting standards (FASs) are forcing companies to put such assets back on their balance sheets? 2. What are some of… Read more »

What Will the Future Bring for Lease Accounting?

Posted by & filed under All Articles.

CEOs and CFOs are cautiously eyeing the limitations that convergence of FASB and IFRS standards may bring to lease accounting. Predictions are that a new global lease standard, anticipated in 2011, will require many traditionally classified operating leases into the capital lease status. QUESTIONS: What are the current FASB criteria for classifying leases as either… Read more »