Subsequent Re-Measurement of Leases Under ASC 842 Guidelines
Within any given lease portfolio, numerous contractual changes may occur depending on if your business is growing, downsizing or restrategizing…
The 5 Steps to Complete an Initial Lease Measurement
What is an Initial Lease Measurement? An initial lease measurement (or reassessment) is required at the lease commencement date if…
The Ultimate Guide to Navigating the Lease Accounting Lifecycle
Navigating the lease accounting lifecycle is a complex and ever-evolving process. Once an entity has determined a contract is or…
How to Assess Materiality and Recognition Thresholds
Implementing the new standard is complex and takes time. Under ASC 842, operating leases are now on the balance sheet,…
The Importance of the Lease Commencement Date in Lease Accounting
In commercial real estate, critical dates are sprinkled throughout your lease contract. These dates or milestone events can have significant financial…
How to Account for Lease Modifications Under ASC 842
Leases are contracts that convey rights and obligations to use an identified asset for a period of time in exchange…
How to Transition to the ASC 842 Lease Accounting Standards
An estimated $3 Trillion dollars in lease liabilities is going onto the balance sheet with the ASC 842 standards. The…
How to Perform a Lease Classification Test
After collecting and organizing your organization’s contracts, you’ll want to determine if each individual contract is a finance or an…
How to Determine the Discount Rate Under ASC 842
One of the key differentiators when Comparing ASC 840 to ASC 842 is that now all leases, both finance (previously…