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...
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...
It was great being in Las Vegas at ENGAGE last week! We enjoyed the conversations and insights we gained while there.
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...
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...
The new lease standard requires you to account for leases differently on your financial statements, which of course includes your general ledger....
When the changes in an accounting standard impact assets or liabilities, we are accustomed to the difference flowing through equity. The new lease...
Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...
Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...
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...
Have you spoken with your clients about the new lease standard? How many clients have begun preparing for implementation? Since the new lease...
Update: On April 8, 2020, FASB proposed to delay implementing the new lease standard for non-public organizations, making their new effective date...
The new lease standard, ASC 842, changes the treatment of common area maintenance (CAM) within a real estate lease contract. Many real estate leases...