Another complicating factor is that the concept of materiality — whether a lease is big enough to be considered a material liability — comes into play when dealing with operating leases.
Ane Ohm
Recent Posts
In the News: Private Companies Have Another Year To Deal With New Lease Accounting Standards, And They'll Probably Need It
Nov 4, 2019 1:53:41 PM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard
The lease standard is delayed: Next steps for CPA firms and their clients
Oct 10, 2019 2:08:53 PM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard, Technology
Written by Ane Ohm, Co-Founder and CEO, LeaseCrunch®
In the News: Spreadsheets Are Not the Only Option for Companies With Small Lease Portfolios
Sep 6, 2019 8:00:00 AM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard, Technology
Written by Ane Ohm, Co-Founder and CEO, LeaseCrunch®
Will spreadsheets do the trick for implementing the new lease standard? The general consensus seems to be “no,” but I still hear about organizations exploring the spreadsheet route—especially those with smaller lease portfolios who feel there isn’t a viable software option.
In the News: 5 things you may not know about the lease standard
Jul 22, 2019 1:41:26 PM / by Ane Ohm posted in LeaseCrunch®, New Lease Standard
As with any accounting standard shift, the new lease standard (ASC 842) brings momentous changes to accounting processes and financial reporting. While the main differences are well-known, I’ve taken a particular interest in the smaller nuances that live within the new standard. (Yes, I’m an accounting nerd and I love learning about and discussing all things related to leases!)
In this article, I’m sharing five of those intricacies that you may not know about the new lease standard, but that are critical to making the transition.