1. Capital/finance lease criteria Example scenarios of capital/finance leased equipment 2. Example: Equipment lease under ASC 842 Opening calculation Amortization schedule Journal entries 3. Leasing...
1. Sale-leasebacks GASB 87 requirements Quantitative example Disclosure requirements 2. Lease-leasebacks GASB 87 requirements Quantitative example Disclosure requirements 3. Summary 4. Related...
Private organizations are moving closer to the required adoption date for ASC 842, Leases. The highly publicized lease accounting transition to ASC 842 will, qualitatively and quantitatively, impact...
To terminate a lease is to cancel the agreement before the end of the specified lease term. Many lease agreements may include an option for either lessees or lessors to terminate the agreement prior...
The new lease accounting standard for governmental organizations, GASB Statement No. 87, goes into effect for all reporting periods that begin subsequent to December 15, 2021. In 2019, GASB released...
Similar to the FASB and IASB, the Governmental Accounting Standards Board released guidance updating the accounting for lease agreements. GASB No. 87, Leases, is effective for applicable...
