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Lease Accounting

The new standards, ASC 842 and IFRS 16, create new challenges for lessees. Get our tips and tricks for lease accounting compliance.

Preparing for your ASC 842 Audit
Lease Accounting

Preparing For Your Audit Under ASC 842

ByLauren Covell December 6, 2022February 9, 2023

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…

Lease Liabilities: The balance sheet impact
Lease Accounting

Lease Liabilities: The balance sheet impact

ByLauren Covell March 2, 2023March 2, 2023

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.

Deferred Rent for ASC 842: Overview and Examples
Lease Accounting

Deferred Rent for ASC 842: Overview and Examples

ByLauren Covell February 28, 2023February 28, 2023

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.

Ultimate Guide to IBR— the Incremental Borrowing Rate
Lease Accounting

Ultimate Guide to IBR— the Incremental Borrowing Rate

ByLauren Covell January 30, 2023February 9, 2023

After adopting new lease accounting standards like ASC 842 and IFRS 16, many lease accountants were presented with a new…

Your ASC 842 Survival Kit
Lease Accounting

Your ASC 842 Survival Kit

ByLauren Covell January 10, 2023January 10, 2023

We built our ASC 842 survival kit to help you kick start your lease accounting compliance journey. Public companies have…

How ASC 842 Impacts Year-End Close
Lease Accounting

How ASC 842 Impacts Year-End Close

ByLauren Covell December 30, 2022February 9, 2023

For accounting teams and finance groups, year-end close is one of the busiest times of the year. Closing out the…

What Every Accountant Should Know About ROU
Lease Accounting

What Every Accountant Should Know About ROU

ByLauren Covell December 15, 2022February 9, 2023

ASC 842 and IFRS 16 have drastically changed the face of lease accounting. The ROU, or “Right of Use” asset…

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      • Implementation Services
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