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What Is ASC 842? The Ultimate Guide
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...
Blog
Read about ASC 842 & other lease accounting topics.
Finance vs Operating Leases: What’s the Difference?
The Financial Accounting Standards Board changed the lease accounting game forever when they declared the ASC 842 new lease accounting standard.
What Does GASB 87 Do? Everything You Need to Know
Lease accounting gets increasingly complicated with each new accounting standard introduced by the Governmental Accounting Standards Board, also...
Lease Accounting Software: What to Look For
The new lease standard is a complex one, with many complicated factors involved in making the transition. While some corporations have opted to use...
ASC 842 Disclosure Requirements: What Lessees Need to Know
ASC 842 disclosure requirements are an important part of complying with the new lease standard. However, making sure you have all the appropriate...
Using the Straight Line Method of Expense in Lease Accounting
First things first: Let’s set some definitions straight, because straight line expense is different from straight line amortization and straight line...
Understanding Practical Expedients for Lease Accounting
The new lease accounting standards can be very complicated.
Initial Direct Costs Under ASC 842: The Complete Guide
Properly identifying Initial direct costs is an important part of lease accounting. Keep reading to avoid accounting mishaps by familiarizing...
5 Mistakes to Avoid When Implementing the New Lease Standard
The new lease standard is more complicated than companies expect and therefore often underestimated. Because of this, we are seeing some unfortunate...
Lease Commencement Dates and What They Mean for Lessors and Lessees
When a lease “starts”, is it the same thing as a lease “commencing?” Is the initial start date of a lease the same as the commencement date?
Lease Accounting Discussion Surges at CPAmerica A&A Conference
CPA firm independence, related party leases and the old debate between spreadsheets vs. software… there’s no doubt that lease accounting was the...
The Secret to Effective Lease Management
Let’s set something straight before we dive into the ins and outs of effective lease management: Lease management is synonymous with lease...
Help Clients While Maintaining Independence
As a CPA, you know the importance of maintaining independence while working with your clients. At the same time, your clients rely on you for...
What Does IFRS 16 Do?
IFRS 16 is the most significant change to international lease accounting in the past 30 years, so you’d better buckle in and listen up.
