The new standards, ASC 842 and IFRS 16, create new challenges for lessees. Get our tips and tricks for lease accounting compliance.
You put in the hard work to transition to ASC 842, the new lease accounting standard. You’ve got your amortization schedules and your journal entries sorted out. Everything seems to be going well, but there is only one surefire way…
Now that many businesses are going through their first year and first audit under the new standard, the true impact of lease liabilities on the balance sheet is a lot clearer.
ASC 842 does away with the deferred rent account. All accounting for operating leases under the new standard is contained within a right-of-use asset and lease liabilities.
After adopting new lease accounting standards like ASC 842 and IFRS 16, many lease accountants were presented with a new…
We built our ASC 842 survival kit to help you kick start your lease accounting compliance journey. Public companies have…
For accounting teams and finance groups, year-end close is one of the busiest times of the year. Closing out the…
ASC 842 and IFRS 16 have drastically changed the face of lease accounting. The ROU, or “Right of Use” asset…