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Karis Call
Jul 22, 2019

Accounting Standards Update No. 2016-02, Leases (ASC 842) released on February 25, 2016, emphasizes increased comparability of financial information for financial statement users, and increased transparency of financial statements by effectively eliminating off-balance sheet financing in the form of operating leases. In order to understand the application of ASC 842, it is important to first define the parameters of a leasing arrangement. Here, leasing arrangements from the perspective of the lessee is discussed.

Melissa Musser, CPA, CISA, CITP
Jun 19, 2019

Corporations and organizations have long understood the value of systematic planning for worst-case scenarios to avoid unwelcome surprises, known as enterprise risk management (ERM). ERM is a proactive, multidimensional process of identifying, assessing, cataloguing, and preparing for potential negative organizational outcomes in order to reduce business and reputational impacts and help meet core goals. Historically, ERM has been viewed as a necessity chiefly for for-profit enterprises or large nonprofits.

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