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Challenges Related to the New Leases Standard
Management should focus on making sure the entity has controls in place to appropriately account for leases under the new leases standard. This will require companies to design different policies, processes and controls to account for leases prospectively (i.e., beginning in the quarter that the standard is adopted) because the prospective accounting model for the new leases standard is different from its transition provisions for existing ...
Read MoreFASB Clarifies Aspects of Lease Accounting Standard
The Financial Accounting Standards Board issued an accounting standards update clarifying some of the disclosure and implementation requirements of the new leasing standard. The new leases standard will put operating leases on the balance sheet of many companies for the first time. The standard takes effect for public companies this year and for private companies next year. The update deals with two lessor implementation issues. It clarifies ...
Read MoreHow to give your boss bad news?and still look so good they'll want to give you a raise
No matter how hard you try to prevent problems in the workplace, it’s inevitable that something will go horribly wrong — and that you’ll need to tell your boss. But reacting emotionally by hysterically spurting out a lengthy backstory or excuse won’t fix the situation. It could put you at risk of losing your boss’ trust in your problem-solving abilities. Bad things are going ...
Read MoreTips for Improving Your Memory
Sherlock Holmes knows a thing or two about memory. The mystery-solving character in BBC One’s television series Sherlock uses a mnemonic technique called “the mind palace” to visualise physical locations where he can store various memories or clues. Later, he retrieves these memories through association with the settings. Sherlock is fictitious, of course, but “the mind palace” or ...
Read More6 Reasons Why You're a Bad Listener (and how to change it)
It’s not our natural inclination to fully listen to what others have to say. Here are the things holding you back from really hearing what people are saying. It may seem counterintuitive, but the way to achieve success is to make the people around you successful, says Fred Halstead, author of Leadership Skills that Inspire Incredible Results. “It’s not particularly intuitive; in our society we believe in ‘me ...
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