by George Azih | Feb 15, 2018
What is an operating lease? Putting it simply, an operating lease is a contract that provides a lessee the right to use an asset without the benefits of ownership. Under topic 840, operating leases did not need to be recorded on the balance sheet – they didn’t meet...
by Chris Ramsey | Jan 30, 2018
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...
by George Azih | Dec 7, 2016
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
This post explains how to transition from the current lease accounting rules to the new lease accounting rules. Specifically, we will discuss how to transition from accounting for operating leases under current GAAP to the proper treatment under the new lease...
by George Azih | Dec 6, 2016
When does a lease start for accounting purposes? How can you tell when the lease starts and when is the lease end date? Every lease has a “start date,” but many people, accountants included, do not understand what that date really is or how to find it....
by George Azih | Nov 22, 2016
In our last blog, we explained how to account for leases where the tenant must take additional property (or expand) in the future. Today’s blog addresses accounting for leases which include a termination at will option. It was inspired by the following question we...
