How To Develop Your Skill For Great Success And Happiness Including Become CPA? | Additional special tips From Admin
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FASB tweaks leases standard with new update
FASB on Monday issued an Accounting Standards Update (ASU) that clarifies how to apply the new leases standard when accounting for sales taxes, certain lessor costs, and certain requirements related to variable payments in contracts.
ASU No. 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors, modifies ASU No. 2016-02, Leases (Topic 842). ASU No. 2018-20 should reduce lessors’ implementation and ongoing costs related to the new leases standard, according to a FASB news release.
“The ASU addresses these issues to help lessors with their implementation and ongoing application of the leases standard without compromising information provided to users of financial statements,” FASB Chairman Russell Golden said in the release.
The ASU issued Monday does the following:
— Jeff Drew (Jeff.Drew@aicpa-cima.com) is a JofA senior editor.
Research & References of FASB tweaks leases standard with new update|A&C Accounting And Tax Services
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A note for you if you pursue CPA licence, KEEP PRACTICE with the MANY WONDER HELPS I showed you. Make sure to check your works after solving simulations. If a Cashflow statement or your consolidation statement is balanced, you know you pass right after sitting for the exams. I hope my information are great and helpful. Implement them. They worked for me. Hey.... turn gray hair to black also guys. Do not forget HEALTH?
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