How to Calculate the Implicit Interest Rate for GASB 87

How to Calculate the Implicit Interest Rate for GASB 87

1. What is the implicit rate under GASB 87? Implicit Rate: Understanding GASB 87 vs ASC 842 Example of Calculating the Rate Implicit in the Lease Validating the Rate Implicit in the Lease 2. Summary 3. Related articles Under GASB Statement No. 87 Leases, the majority...
How to Account for Partial Lease Terminations

How to Account for Partial Lease Terminations

1. Is it a termination? 2. How to account for a termination Reassessing classification Remeasuring the lease liability Remeasuring the right-of-use asset 3. Partial termination accounting with example Approach 1: Proportionate change in the lease liability Approach 2:...
ASC 842 Disclosure Requirements: Example and Explanation

ASC 842 Disclosure Requirements: Example and Explanation

1. A focus on quantitative disclosures for lessees 2. Why software makes generating disclosures more accurate and efficient 3. Looking at quantitative disclosures in four “buckets” Lease costs Other information Weighted averages Maturity analysis ASC 842, Leases, is a...