How GASB 87 Compares to FASB ASC 842
Here are the major differences between the new lease accounting standards from both GASB and FASB. 1. GASB eliminates the…
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…
The FASB Officially Delays Deadline for Private Company Lease Accounting Standard Adoption
CoStar Advises How Organizations Should Take Advantage of Extra Time to Comply with ASC 842 ATLANTA--(BUSINESS WIRE)--The Financial Accounting Standards…
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…
Deferred Rent – What it means under ASC 840 and how it impacts ASC 842 transition
Deferred rent is the balance sheet account that was used under ASC 840 to enable straight-line rent expense. Basically, when…
How new lease accounting standard ASC 842 has significantly impacted corporate earnings
ASC 842 was written to produce very little, if any, impact on corporate P&Ls. In fact, that is the main…
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…
What you need to know about GASB Lease Accounting Compliance
Generally accepted accounting principles (GAAP) for state and local governments in the U.S. is determined by the private non-governmental organization…