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Posts Tagged ‘FASB’

Will my fixed asset module work for ASC 842 & IFRS 16?

Lease Accounting Standards Are Changing. As you are probably aware, new leasing standards about to go into place. These standards are known as ASC 842 and IFRS 16, which require companies to place leases on the balance sheet. This includes a right of use asset and a lease liability. In addition, the lease expense will be made […]

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Is Your ERP Ready for the FASB/IASB Revenue Standard?

After a longer than expected wait and much anticipation, the FASB and IASB finally issued the combined revenue recognition standard (ASC 606 and IFRS 15) on May 28th.  This new standard won’t be effective for U.S. GAAP public reporting entities until the first interim period within their annual reporting periods beginning after December 15, 2016.    […]

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