FASB Article Roundup: The Latest FASB News and How It Affects CRE Pros

 August 4, 2022

By  Guy Gray

Commercial real estate never sleeps, but CRE professionals do. That’s why it’s important to make sure you review the most relevant news articles on the web to identify changes and/or ideas for improving your processes and portfolio.

Here is the latest in our series of FASB-related articles, what each means for the CRE industry and how the right commercial real estate software can help you address them.

FASB to Tackle Rule-Making on Accounting for Environmental Credits

The U.S. accounting standard-setter will consider writing clear rules related to companies’ renewable-energy credits and carbon offsets, as this Wall Street Journal article reports.

How the New Lease Accounting Standard Impacts Manufacturers and Distributors

The new lease standard (FASB ASC Topic 842) is finally effective in 2022 for most private companies. Although all industries will likely be affected by the new lease standard, there are some special considerations for manufacturers and distributors.

Lease Accounting Guide: Roadmap for ASC 842

Lease accounting is like a tale of two cities, with Companies that have adopted ASC 842 in one and those that have not yet adopted the standard in the other. That means some may be more focused on ongoing activity at the FASB and the impacts of COVID-19, while others are still grappling with implementation challenges.

FASB Sets Its Sights On Crypto

The Financial Accounting Standards Board (FASB) staff will present the findings of a digital assets research project next week, marking the first time the board will discuss the results of the exploration.

Digital Journal Q&A: New Standards Are Reshaping Lease Accounting

The introduction of lease accounting standards has forever altered how public, private and government entities manage, track and report on their leases.

Breaking Down the Leases Standard for Your Nonprofit

The COVID-19 pandemic has caused unprecedented challenges in all aspects of daily life. In June 2020, FASB issued Accounting Standards Update (ASU) 2020-05, which provided nonpublic entities and not-for-profits (NFP) additional time to implement Accounting Standards Codification (ASC) 842, Leases. 

FASB Targets New Long-Term Agenda, Rules on Expense Disclosure in 2022

The U.S. accounting rule maker could issue a standard that would require companies to share more information about significant costs.

Planning An IPO? What You Need To Know About This Important New Accounting Rule

ASC 842, the new lease accounting standard, is one of the most significant changes to financial accounting standards in recent memory, with pervasive accounting effects that will substantially alter balance sheets for virtually all businesses.

If you’d like to see how Quarem can help you stay updated with FASB leasing standards, market values and more, request a demo today.

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About the author 

Guy Gray

Guy Gray serves as Chief Operating Officer overseeing our technology and client services teams. He is responsible for guiding Quarem application development, networking and security, as well as new client implementations.

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