2 Minute Drill – FASB Extension for Lease Accounting

2 Minute Drill – FASB Extension for Lease Accounting

FASB compliance is easier then ever with the ARCHIBUS Extension for Lease Accounting.

On February 25, 2016 the Federal Accounting Standards Board released Topic 842. It defines the new standards which requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Public companies must be compliant by January 1, 2019. All other companies must be compliant by January 1, 2020.


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About IMS Consulting
For more than a decade, IMS Consulting has delivered the full scope of ARCHIBUS-related services to both government and commercial clients. As a Virginia Certified Small Business, IMS Consulting provides our clients with personalized attention by experienced ARCHIBUS certified consultants. Our experts work with our clients to thoroughly understand how they do business, identify their unique needs, and pinpoint opportunities to better manage their infrastructure, employ more efficient work processes, and make smarter capital budgeting decisions—both today and over the long term.

IMS Consulting specializes in the implementation of ARCHIBUS, the #1 real estate, infrastructure & facilities management solution in the world. ARCHIBUS is the global leader in streamlining how you manage your real estate, infrastructure and facilities. Centralize your data, planning and operations onto one seamless platform backed by 35 years of innovation and the world’s largest support network. Reduce costs, enhance sustainability, and create a better workplace by transforming how you connect with people, places, and processes.