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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...
Considerations for Firms Managing Audit Fee Pressure During a Pandemic
Read the original article posted on Accounting Today.
Fall can be a busy time of year. In public accounting, CPA firms reconnect with many clients...
What we Learned at AICPA ENGAGE 2021
It was great being in Las Vegas at ENGAGE last week! We enjoyed the conversations and insights we gained while there.
John Hepp Discusses Leases Between Related Parties
Important note: This is a judgment-based standard, which means there are few hard-and-fast rules and the treatment of your leases will depend on your...
Defining and Identifying Embedded Leases
One of the trickier aspects of the new lease standard is the concept of embedded leases. Like many components of the new standard, identifying an...
Meet Your Updated General Ledger Accounts Under the New Lease Standard
The new lease standard requires you to account for leases differently on your financial statements, which of course includes your general ledger....
ASC 842: Transitioning Leases and Why Equity Likely Isn’t Affected
When the changes in an accounting standard impact assets or liabilities, we are accustomed to the difference flowing through equity. The new lease...
What We Want to See Happen With the New Lease Standard in 2019
Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...
When the New Lease Standard Goes into Effect and Other Key Dates
Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...
Ask the Expert: John Hepp Discusses the New Lease Standard
Important note: This is a judgment-based standard, which means there are few hard-and-fast rules and the treatment of your leases will depend on your...
CPA Playbook for Talking to Clients About the New Lease Standard
Have you spoken with your clients about the new lease standard? How many clients have begun preparing for implementation? Since the new lease...
FASB Amends the New Lease Standard
Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...
How the New Lease Standard Affects CAM Accounting
The new lease standard, ASC 842, changes the treatment of common area maintenance (CAM) within a real estate lease contract. Many real estate leases...
