Many people think that Q1 is the busiest time of the year for accountants. They assume that because it’s tax season, accountants are only stressed between January and April. While it’s true that accountants are extremely busy during the first quarter,...
We recently surveyed 200 accountants in the lease accounting transition process, and while respondents came from different industries and sizes of companies, one takeaway is clear: lease accounting transition proved more challenging than they anticipated. The FASB...
What is a capital/finance lease? Finance lease vs capital lease Capital lease criteria: under 840 “Strong-form” vs. “weak-form” finance leases Finance lease criteria: how classification has changed under ASC 842 Finance lease accounting example...
There is a lot of misinformation regarding the new lease accounting rules. IFRS 16 and ASC 842 are summarized in another blog, but this post addresses the most common misconceptions about the lease accounting updates. 1. Lease capitalization is required for every...
Jennifer Booth, our VP of Accounting, has nearly 20 years of experience in her field. She spent the majority of her career at EY before joining the LeaseQuery team last December. She wanted to follow her father’s footsteps into business, and Jennifer was drawn to...
