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What Is ASC 842? The Ultimate Guide
What is ASC 842 Summary?
The ASC 842 standard for lease accounting requires all leases longer than 12 months to be recorded as assets and liabilities...
Blog
Read about ASC 842 & other lease accounting topics.
Finance Leases 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. In June...
Asset Retirement Obligation: Why It’s Important & How to Account for It
Asset retirement obligation is a policy that was started by the Financial Accounting Standards Board, or the FASB, in 2001. Also known as SFAS 143,...
Checklist: How to Identify Embedded Leases
While embedded leases are not a new concept in accounting, they are now receiving a lot more attention. In the past, operating leases weren’t...
What are Right of Use Assets?
What is a Right of Use Asset?
A right of use asset, or ROU, is a lessee’s right to use an asset over the course of a lease.
LeaseCrunch® Announces New Agreed-Upon Procedure Report
As discussion and concern around implementing the new lease standard increased this year, there was much to be said about the readiness (or lack...
What is Capital Lease Accounting?
A change is coming to lease categorization, and it’s been a long time coming.
How Do I Help Clients Start Preparing for the New Lease Standard?
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...
Readiness Assessment: How Ready Are You for the New Lease Standard?
After FASB’s proposed delay at their April 8, 2020 meeting, the new lease standard will likely go into effect for non-public companies the fiscal...
Key Takeaway from CPAmerica’s Leading Partner/Large Firm Group Meeting
How are you helping your clients implement the new lease accounting standard, and what are they doing now to prepare for it? Besides the jaw dropping...
What is Sale and Leaseback?
A sale and leaseback transaction is when the seller of an asset becomes the lessee and the purchaser becomes the lessor.
What is the Financial Accounting Foundation?
In the world of accounting, there is a triumvirate of organizations that continually define and update lease accounting standards for various...
Maintain Independence while Implementing the New Lease Standard
LeaseCrunch Helps CPA Firms Maintain Independence while Implementing the New Lease Standard
Why Public Companies Shouldn’t Use Spreadsheets for Lease Accounting
If your public company clients are using spreadsheets to maintain their leases, you know what a pain those spreadsheets can be. They are error-prone,...