Analyzing the implications of the accounting standard update, topic 842

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Publication Type honors thesis
School or College David Eccles School of Business
Department Accounting
Faculty Mentor David Plumlee
Creator Uchida, Allison Miaki
Title Analyzing the implications of the accounting standard update, topic 842
Year graduated 2016
Date 2016-05
Description In 2010 the Financial Accounting Standards Board (FASB) made a proposal to modify the current United States Generally Accepted Accounting Principles (US GAAP) rules in regard to leases, summarized in ASC 840. The proposed changes would alter the entire way in which companies reporting in accordance with US GAAP would identify, classify, and report leases, in accordance with the Accounting Standards Update, Topic 842 (ASU 842). The classification of leas es and reporting standards under US GAAP would significantly change if the roposed alterations are accepted. The benefits of the changes would help to improve transparency to company stakeholders, as well as aid the convergence process with the International Financial Reporting Standards (IFRS). In theory the goals of the amendment to lease accounting are good in nature, but the implications of the changes are far reaching. The changes on the value of the companies' financial statements could potentially have detrimental implications on the American economy, and provide for new problems for financial institutions . This thesis will assess the benefits and possible implications of convergence between IFRS and US GAAP in regards to leases.
Type Text
Publisher University of Utah
Subject Accounting statements and guidelines; Accounting standards update
Language eng
Rights Management (c) Allison Miaki Uchida
Format Medium application/pdf
Format Extent 25,069 bytes
Identifier honors/id/59
Permissions Reference URL https://collections.lib.utah.edu/details?id=1312202
ARK ark:/87278/s6zp7gdx
Setname ir_htoa
ID 205711
Reference URL https://collections.lib.utah.edu/ark:/87278/s6zp7gdx
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