NSAC Happenings and Latest News - Page 69
Year-end Accounting and Disclosure Reminders for Reporting Under the New Leases Standard
As they prepare for year-end reporting, entities that adopted the new leases standard should carefully review their accounting and disclosures in areas that require significant judgment, estimates and changes in practice. These areas include determining whether a contract is a lease or contains a lease, determining the discount rate to use for new or modified leases, and identifying lease modifications and reassessment events. Entities should be ...
Read More10 Steps to a Coaching Culture
In a recent Ted Talk, Bill Gates opened with the statement, "Everyone needs a coach." Almost everyone can benefit from the straight talk and support of a performance coach, especially at critical junctures in their career. To elevate future leaders faster, encourage traditional leaders in new ways of thinking, and to facilitate transition, more leaders are working to create a culture of coaching in their firms. I am encouraged by ...
Read MoreHow Safe Are Password Managers?
A password manager stores all your passwords and automatically fills them in your web browser and mobile apps. But is trusting an app with your passwords and storing them all in one place a smart idea? Yes, yes, it is. We recommend everyone use a password manager, which is far superior to other ways of keeping track of your passwords. Here’s why they’re a safe choice. Password Managers Are Safer Than the AlternativeA password ...
Read MoreLease Accounting: Keep Pushing Ahead
In February 2016, FASB issued new lease accounting requirements in Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Under its core principle, a lessee recognizes a right-of-use (ROU) asset and a lease liability on its balance sheet for most leases, including operating leases. This is expected to have a significant impact on most entities' balance sheets, considering how prevalent and routine leasing is to most businesses. FASB ...
Read More3 Reasons CPAs Should Care About Blockchain
People’s perspectives on blockchain usually fall into two categories: You believe the technology will change everything, or you believe it’s a passing fad. The reality is probably somewhere in the middle. At the recent 2nd Annual Blockchain Symposium in New York City, I highlighted three reasons CPAs should care about blockchain: 1. Adoption is comingYou may have heard about the Walmart mandate that will require its leafy green ...
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