The cloud computing age has brought with it critical acronyms that often seem confusing to anyone outside the realm of IT. For finance professionals navigating the mid-market, comprehending Software...
1. The rise of software subscriptions Understanding popular pricing models in SaaS 2. How to account for software subscriptions What does the guidance say? 3. Financial statement impact of software...
1. What are prepaid expenses? Prepaid expenses vs. accrued expenses 2. Accounting for prepaid expenses Accrual basis vs. cash basis Presentation on the balance sheet When do prepaid expenses hit the...
1. What is government fund accounting? 2. Different types of funds 3. Fund accounting & GASB 87 4. Summary 5. Related articlesWhat is government fund accounting? Fund accounting is a system of...
When faced with an obligation to restore a long-lived asset or the environment surrounding it to its original condition, the proper accounting treatment is dependent upon whether the obligation is...
1. Lease impairment indicators under GASB 42 2. Recording an impairment loss under GASB 87 Example: Recording a lease impairment under GASB 87 3. Summary 4. Related articlesUnder the legacy GASB...
1. Disclosure requirements for lessees under IFRS 16 2. Using software to generate accurate and efficient disclosures 3. Quantitative disclosures for lessees Amounts recognized on the income...
1. IFRS 16 summary IFRS 16 leases What is considered a lease under IFRS 16? 2. IFRS 16 finance lease example (lessee) Amortization schedule Journal entries 3. IFRS 16 disclosures 4. SummaryIFRS 16...
1. What is the implicit rate under ASC 842? How to calculate the rate implicit in a lease under ASC 842 Example of calculating the rate implicit in a lease under ASC 842 Validating the calculated...
This is the second blog in our series on lease modifications and addresses a modification where the lease classification changes as a result of the modification. In this blog, we will give a...
