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…
Lease accounting can be a complex and time-consuming task, especially for companies with a large number of real estate or…
Straight line expense, also known as the straight line depreciation method, straight line basis, or simply the straight line amortization…
ASC 842 fundamentally changed how accounting departments build their organization’s balance sheet, income statement, and cash flow analysis. In this…
Generally accepted accounting practices (GAAP) for lease accounting instituted ASC 842 (replacing ASC 840) in 2019, requiring organizations to record…
The completeness assertion is a critical component of lease accounting under ASC 842, and it is essential for businesses to…
The chart of accounts is at the center of all bookkeeping, accounting, and financial reporting activities. Creating a thoughtful chart…