Blog

Read about ASC 842 & other lease accounting topics.

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...

New Lease Standard

ASC 842

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.

GASB

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 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...

CPA Firms

Technology

Lease Accounting Software

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...

New Lease Standard

CPA Firms

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.

In the News: FASB Releases 2022 GAAP Taxonomy

Breaking news in the accounting world!

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

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...

LeaseCrunch

New Lease Standard

CPA Firms

Technology

How Much Time Will You Save with Lease Accounting Software?

When it was time for public companies to implement the new lease accounting standard, many opted for a tool they already know: spreadsheets. Similar...

FASB

ASC 842

Don't Delay, Start Preparing for the New Lease Standard Today

The Financial Accounting Standards Board met on November 10, 2021 and decided not to further defer the new lease accounting standard implementation...