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...
Read about ASC 842 & other lease accounting topics.
The ASC 842 standard for GAAP lease accounting requires all leases longer than 12 months to be recorded as assets and...
The Financial Accounting Standards Board changed the lease accounting game forever when they declared the ASC 842 new lease accounting standard.
Lease accounting gets increasingly complicated with each new accounting standard introduced by the Governmental Accounting Standards Board, also...
A sale and leaseback transaction is when the seller of an asset becomes the lessee and the purchaser becomes the lessor.
In the world of accounting, there is a triumvirate of organizations that continually define and update lease accounting standards for various...
LeaseCrunch Helps CPA Firms Maintain Independence while Implementing the New Lease Standard
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...
I get it: the 2021 audit season is probably the craziest busy season your CPA firm has ever seen.
There have been over 90 separate GASB statements released by the organization since its inception in 1984. GASB, or the Governmental Accounting...
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...
When it was time for public companies to implement the new lease accounting standard, many opted for a tool they already know: spreadsheets. Similar...
The Financial Accounting Standards Board met on November 10, 2021 and decided not to further defer the new lease accounting standard implementation...
Read the original article posted on Accounting Today.
As we wrap up an unpredictable year, let’s explore the Financial Standards Accounting Board...
The Private Company Council (PCC) and the Small Business Advisory Committee (SBAC) recently met and discussed the implementation of ASC 842,...