In this blog, we will give an example of how to account for a lease modification under ASC 842 that does not expand or add additional assets to the original lease, but rather increases the lease...
The journey toward adopting the new lease accounting standards (ASC 842, IFRS 16, and GASB 87) isn’t easy - there are numerous pitfalls that can happen along the way. While the deadline for public...
Endeavor's Impact on LeaseQuery's Growth Last week I had the pleasure of attending the Endeavor Catalyst Investor meeting in San Francisco, CA. During my time there, I was able to attend a fireside...
Now that public companies have completed or are in the final stages of their lease accounting transition, we can get an idea of what the ripple effect of the new lease accounting guidance will be...
For accountants at mid-sized and small companies, buying software isn’t a regular occurrence. Companies don’t invest as heavily in accounting as they do in marketing and IT. And when they do, the...
Turnover, major projects, and organizational changes can make it difficult for teams to work together effectively, despite all of your best efforts. Every now and then, it’s worthwhile to do a gut...
The new lease accounting standard creates new opportunities for accounting and advisory firms. Your clients will need guidance on interpreting the standard, developing their policies, and...
Time – no matter what you do, it seems like there’s never enough of it. Fortunately, there are small things that you can do to make the most of your time and improve the efficiency of your...
To say that financial reporting regulations have changed in the past 20 years would be an understatement. We’ve seen significant recommendations made by The Securities and Exchange Commission (SEC),...
You’ve collected all of your company’s leases. You’ve built your amortization schedules. You’ve created your journal entries and reports. And now, the moment of truth: your first post-transition...
Finding a gifted lease accountant is complicated. You need a project manager who can see the big picture to ensure long-term compliance. But you also need a technical accountant who’s a stickler for...
Excel used to be, or maybe still is, your “tried and true” go-to for handling lease accounting. However, for some businesses and organizations, accounting for all of their leases with Excel just...
As the deadlines for FASB 842 and IFRS 16 get closer, many companies are realizing just how time-consuming and resource-heavy the transition process is (this 12-step guide will walk you through the...
For private companies, the January 1, 2021 compliance deadline is nearing and your transition should be underway. However, with all you have to do, we understand that starting and completing this...
Excel is an accountant’s best friend. The ubiquitous software has been around for over 30 years and most of us can’t imagine a world without it. It seems like it can do anything. Unfortunately, to...
Adopting ASC 842, IFRS 16, and GASB 87 requires you to revamp your lease accounting practices. In order to transition properly and maintain compliance going forward, you’ll need to collect...
