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...
This is the second blog in our series on lease modifications and addresses a modification where the lease classification changes as a result of the modification. In this blog, we will give a comprehensive example under ASC 842 illustrating how to account for a lease...
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...
Do you report under GAAP or IFRS? If so, it’s likely that your organization is large enough to include both equipment and real estate leases in its lease portfolio. After speaking with hundreds of companies, LeaseQuery discovered that these have historically...
