Is the Third Workspace Here to Stay?

Is the Third Workspace Here to Stay?

The third workspace has now become essential for modern day business. With COVID-19, the work from home experiment accelerated a…

Comparing ASC 840 to ASC 842: Going From Old to New Lease Accounting Standards

Comparing ASC 840 to ASC 842: Going From Old to New Lease Accounting Standards

In 2005, the Securities and Exchange Commission recommended FASB address a lease accounting project. Under ASC 840, corporations were required to report on off-balance-sheet arrangements. Fast forward to today, and ASC 842 is replacing ASC 840 and creating new guidelines that say all lease liabilities should be accounted for on the balance sheet.

How to Identify Embedded Leases

How to Identify Embedded Leases

In accordance with ASC 842, an entity is required at contract inception to identify whether a contract contains a lease….

What is Lease Abstraction?

What is Lease Abstraction?

Commercial real estate leases are lengthy and somewhat daunting documents. But, within each lease document lives an immense amount of…