When the FASB’s changes to lease accounting standards were released in 2016, it was hailed as one of the biggest changes to accounting in decades. After the implementation of the new rules began in earnest in 2019, it became clear that the magnitude of the impact on...
Lease Liabilities Index Report Balance Sheet Liabilities Skyrocket in Lease Accounting Transition The Lease Liabilities Index Report evaluates the lease accounting transition impact on the balance sheets of 400+ companies across six critical industries. Download this...
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 to the end of the original lease term. Lease termination options can...
This article was written in collaboration with LeaseQuery’s partner in easing the burden of lease accounting, Postlethwaite & Netterville (P&N). While the lease accounting delay for private companies and nonprofits may have been welcomed with open arms, it...
ASC 840 summary Balance sheet recognition for operating leases ASC 840 to ASC 842 transition date ASC 840 vs ASC 842 When is lease classification determined? Lease payments and executory costs Are the criteria for lease classification the same? Fair value adjustment...
Complying with the new standards is a headache – especially in Excel Investing in technology can prevent non-compliance Listen to your peers Evaluate the software’s features Analyze your budget The new lease accounting standards affect every business, no matter the...
