by Chris Ramsey | Jan 30, 2018 | Blog, Capital and Finance Lease Accounting, Equipment, Operating Lease Accounting
Do you report under GAAP or IFRS? If so, you are most likely large enough to have both equipment and real estate leases in your portfolio. After speaking with hundreds of companies, LeaseQuery, a leading lease accounting software vendor founded by Accountants,...
by George Azih | Sep 12, 2017 | Blog, Capital and Finance Lease Accounting
What is a capital lease?A capital lease, referred to as a finance lease under ASC 842 and IFRS 16, is a lease that has the characteristics of an owned asset. In accounting, the lessee records the leased asset as if he or she purchased the leased asset using funding...
by George Azih | Dec 7, 2016 | Blog, Capital and Finance Lease Accounting, FASB ASC 842, Lease Accounting Standards, Operating Lease Accounting
In May 2013, the FASB and IASB released an Exposure Draft proposing a new approach to lease accounting. The proposed accounting rules will require recognition of all leased assets as “Right of Use” assets (ROU assets), and recognition of a lease liability (an...
by George Azih | Dec 7, 2016 | Blog, Capital and Finance Lease Accounting, FASB ASC 840
In this post I will explain Type A leases in detail from the lessee perspective. We will discuss how to calculate the initial and subsequent values of the lease liability and the initial and subsequent values of the Right of Use (ROU) Asset. In a later blog we will...
