COVID-19 Background Changes to lease payments under COVID-19 Accounting for COVID-19 lease concessions Deferral of payments Payment reductions Summary Accounting for lease concessions within the modification framework Related articles COVID-19 Background The current...
Will I need to impair my assets due to COVID-19? What is an impairment? Do you have impairment indicators? Is your asset recoverable? How do I calculate impairment? Related articles Will I need to impair my assets due to COVID-19? Depending on the timing of financial...
Is it a termination? How to account for a termination Reassessing classification Remeasuring the lease liability Remeasuring the right-of-use asset Partial termination accounting with example Approach 1: Proportionate change in the lease liability Approach 2:...
Are you considering doing your lease accounting in NetSuite? As part of Oracle’s product lineup, NetSuite is one of the most well-known accounting software solutions on the market. Its popularity is due to its wide range of accounting functionalities and customer...
Budgeting and financial decisions Critical dates and renewals Interdepartmental collaboration Financial statement audits Lease database There’s no need to wait Related articles Most accounting software is able to provide benefits that go beyond compliance. In...
What is asset retirement in accounting? What is an Asset Retirement Obligation (ARO)? ASC 410: ARO accounting and environmental obligations ASC 410-20 and interactions between ASC 410 and ASC 842 How to perform the accounting for an ARO What is accretion expense? Is...
