Completeness Assertion – What Does it Mean In Lease Accounting?
The completeness assertion is a critical component of lease accounting under ASC 842, and it is essential for businesses to…
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Commercial Lease Types Explained
Commercial leases are agreements between landlords and tenants for the rental of commercial properties. There are several commercial lease types,…
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Setting up your Lease Portfolio Chart of Accounts
The chart of accounts is at the center of all bookkeeping, accounting, and financial reporting activities. Creating a thoughtful chart…
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How to Streamline Lease Accounting Policies & Controls
The Financial Accounting Standards Boards outlines lease accounting policies and controls that are built to ease the transition.
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What are ROU Assets? An Essential Guide
What are ROU assets? An ROU asset is represents the lessee’s right to use said leased asset, real estate, equipment or other over it’s term.
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FASB Tentative Board Decision: Common Control Arrangements Explained
On February 15, 2023, FASB held a board meeting and reached a tentative board decision relating to leases under common control arrangements.
