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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...
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.
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
The Ultimate GASB 87 Implementation Guide
You might know what GASB 87 is, but when it comes to making your lease accounting practices GASB 87-compliant, are you really hitting the ball out of...
Avoid Post-Busy Season Burnout with an Easy Head Start on ASC 842
I get it: the 2021 audit season is probably the craziest busy season your CPA firm has ever seen.
Why Did GASB 87 Replace GASB 62? A Guide to Accounting Pronouncements
There have been over 90 separate GASB statements released by the organization since its inception in 1984. GASB, or the Governmental Accounting...
GASB 87 Implementation Date—Start Preparing Today
GASB 87 is effective for fiscal years beginning after June 15, 2021, and all reporting periods thereafter—believe it or not, that’s right around the...
