XPECT Insight

XPECT Announcement

(Schaumburg, IL, June 3, 2020) The Financial Accounting Standards Board (FASB) has officially delayed the effective date of Accounting Standards Codification (ASC) No. 606 Revenue from Contracts with Customers and ASC No. 842 Leases by one additional year for private companies that have not yet adopted the standards. The standards are now effective for fiscal

Change in Effective Date of Lease Standard for Private Companies

Its official!  The Financial Accounting Standards Board (FASB) on Wednesday approved a delay in the effective date of the new lease standard by one year.  This decision provides private companies additional time to prepare for the new standard.  In addition to the delay of the lease standard, the FASB also voted to delay the effective