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…
Accountants know lease accounting has undergone drastic changes due to the enactments of ASC 842 and IFRS 16. The financial…
What does ASC 842 mean in practice if your real estate portfolio consists of finance leases? Well, the first change…
When accounting teams come across the term implicit interest rate, a quick search will tell them that this refers to…
One of the major changes that came with the transition from ASC 840 to ASC 842 was that leases must…
At the end of the 2020 fiscal year, the Financial Accounting Standards Board (FASB) made it mandatory for private, public,…
ASC 840 was the original accounting standard for leases that allowed companies to disclose their leases in the notes of…