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Lease accounting is applied at the lowest asset component. As a result, after you have identified the lease and nonlease components, you as the...

Implementing the new lease standard is complex if you try to do it in spreadsheets, even for organizations with a few leases. Beyond the complexity...

What is Considered a Lease Under ASC 842?

Not all arrangements qualify as a lease under the new standard’s definition of a lease. Of course,...

The Financial Accounting Standards Board changed the lease accounting game forever when they declared the ASC 842 new lease accounting standard. 

Back in the early 2000s, there was an energy-trading and utility company named Enron. Based out of Houston, Texas, this company is responsible for...

Written by Ane Ohm on Tuesday, August 6, 2019 It’s been a couple of weeks since the FASB announced its decision to potentially delay the...

If your public company clients use spreadsheets to maintain their leases, you know what a pain those spreadsheets can be. They are error-prone,...

What is ASC 842 Summary?

The ASC 842 standard for GAAP lease accounting requires all leases longer than 12 months to be recorded as assets and...

If your clients use spreadsheets to maintain their leases, you know what a pain they can be. Spreadsheets are error-prone, difficult to adjust and...

FASB’s proposal to once again delay implementation of the new lease standard by one year for non-public companies brought some relief amid the...

Your clients are hopefully well aware that implementation of the new lease standard is just around the corner. However, some of your clients may have...

#1: What is an Embedded Agreement?

A single agreement can have multiple aspects to it that require different accounting treatments. For example, an...