Understanding SOC Reports
Understanding SOC Reports for User Clients An organization that relies on service organizations to provide information technology services needs to…
Accounting for Lease Incentives
What are Lease Incentives? Lease incentives, sometimes called tenant inducements, are enticements lessors provide to encourage lessees to sign a…
FASB Simplifies Accounting For COVID-19 Lease Concessions
Organizations suffering from the fallout of COVID-19 can now account for lease concessions as a variable expense regardless of whether…
Companies May Treat Cotenancy Clauses As Variable Expenses
Cotenancy clauses may need to be accounted for when social distancing ends if some stores don’t reopen their doors. Cotenancy…
COVID-19 and Lease Accounting with CoStar
The coronavirus pandemic (COVID-19) has impacted business, and life in general, in many ways. The impact to financial statements will…
The Intersection of Tax and Lease Accounting
The new lease accounting standard, ASC 842, was issued by the FASB in early 2016. Many public companies have already…
A practical approach to the Incremental Borrowing Rate (IBR) for lease accounting
ASC 842 requires lessees to use the rate implicit in the lease agreement for the Net Present Value (NPV) calculations…
Don’t Get Caught Off Balance with Lease Accounting
Does the opening ROU asset always equal the opening lease liability? Not always. Many public companies have already successfully adopted…
Key Money and the Impact on Lease Accounting under ASC 842
Key money is typically used in the leasing industry to describe an incentive paid to acquire a lease. And it’s…
Frozen Lease Accounting – Continued Use of Straight-line Functionality
New lease accounting guidelines (ASC 842 and IFRS 16) are now in effect for many companies. I am often asked…