by Lisa Maguire | Mar 20, 2020
Off-balance-sheet financing Examples of off-balance-sheet liabilities Off-balance-sheet activities targeted by the Boards Off-balance-sheet leases: How were they recorded? Recording capital leases on the balance sheet under ASC 840 Benefits of off-balance-sheet...
by George Azih | Jan 10, 2020
What is lease classification? Operating vs finance leases under ASC 842 Transference of title/ownership to the lessee Purchase option Lease term and the remaining economic life of the asset Present value vs fair value of the asset Asset specialization Operating vs....
by George Azih | Nov 7, 2019
Operating leases defined New treatment and changes Identification Is lease capitalization required for all? New example under ASC 842 Lease agreement details Determine the lease term under ASC 840 Determine the total lease payments Prepare the straight line...
by Abdi Ali | Oct 2, 2019
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...
by Jason Parker | Sep 27, 2019
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, 2019. Just over a month ago, GASB released the final implementation guide to provide additional...
by George Azih | Aug 28, 2019
In this blog, we will give an example of how to account for a lease modification under ASC 842 that does not expand or add additional assets to the original lease, but rather increases the lease term and changes the payment amounts. Because there isn’t an additional...
