Bloomberg BNA Publishes Two Portfolios On New Lease Accounting Standard

ARLINGTON, Va., Sept. 12, 2017 /PRNewswire/ -- Bloomberg BNA today announced the release of two new Accounting Portfolios that will help practitioners and corporate accounting professionals understand and navigate the new leasing standards, Accounting Standards Codification (ASC) 842 and International Financial Reporting Standard (IFRS) 16. The New Leasing Standard – Analysis and Application, Parts I and II, authored by Joseph P. Sebik of Siemens Corporation and Lisa Starczewski of Buchannan Ingersoll & Rooney, provide an in-depth analysis and practical guidance to assist with the assessment and implementation phases of the new standard.  

This two-part series provides practical insights on transitioning to the new standard, including allocation and classification guidance. The series provides thorough coverage of lease modifications, build-to-suit transactions, guidance on disclosure requirements, and tips on implementing the new standard. Practitioners will benefit from the observations, illustrative examples, and practical implementation guidance the Portfolio authors provide.

"As companies assess how they will record new right of use assets and lease liabilities on their balance sheet, it is clear that this new standard is having a major impact on companies across all industries and these Portfolios will provide practitioners with a roadmap for assessing and implementing it with clarity and confidence," said Sebik. "With this transition to the new standard, companies will greatly benefit from the in-depth guidance and insights provided by these Portfolios"

"The new leasing standard will affect nearly every business in the U.S. These important Accounting Portfolios will greatly help accounting professionals, who are tasked with evaluating their financials for existing leases and developing strategies for complying with the new standard," said Lisa Fitzpatrick, Vice President and General Manager, Tax and Accounting, Bloomberg BNA.  "Joe Sebik and Lisa Starczewski have literally written the book on lease accounting, and these two new Portfolios are a great addition to the comprehensive analysis offered in the Bloomberg BNA Financial Accounting Center."

Bloomberg BNA's Accounting Portfolios are well known for offering analysis and real-world insights from practitioner experts on financial reporting topics. These new Accounting Portfolios are part of Bloomberg BNA's Financial Accounting Resource Center, a comprehensive research product, which enables practitioners to stay current on new accounting and auditing developments with exclusive news, expert commentary and analysis, and full-text accounting standards. For a free trial, visit Bloomberg BNA's Financial Accounting Resource Center at http://on.bna.com/Qh6U30eGvta.

About Bloomberg BNA
Bloomberg BNA provides legal, tax and compliance professionals with critical information, practical guidance and workflow solutions.  We leverage leading technology and a global network of experts to deliver a unique combination of news and authoritative analysis, comprehensive research solutions, innovative practice tools, and proprietary business data and analytics.  Bloomberg BNA is an affiliate of Bloomberg L.P., the global business, financial information and news leader.  For more information, visit www.bna.com. 

SOURCE Bloomberg BNA

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