Audits Under ASC 840: Assessing Risk and Controls

Audits Under ASC 840: Assessing Risk and Controls

1. Assessing Risks and Controls Process documentation Internal control design for ASC 842 Assessing Risks and Controls With the implementation of the new lease accounting standard, ASC 842, new financial statement and process risks emerge for private companies. As...
Lease Management Software for Tenants and Lessees

Lease Management Software for Tenants and Lessees

1. How to know if you need software for lease tracking Which industries typically need lease software? 2. Choosing the best lease management software Prevent mistakes with critical date alerts Track any asset Centralize lease documents Improve your reporting 3. Why...
Sublease Accounting under ASC 840 and ASC 842

Sublease Accounting under ASC 840 and ASC 842

1. Accounting for a sublease under ASC 840 2. A comprehensive example of sublease accounting under ASC 840 Straight-line amortization schedule for the head lease Accounting for an operating sublease under ASC 840 3. Accounting for a sublease under ASC 842 4. A...
How to Calculate the Implicit Interest Rate for GASB 87

How to Calculate the Implicit Interest Rate for GASB 87

1. What is the implicit rate under GASB 87? Implicit Rate: Understanding GASB 87 vs ASC 842 Example of Calculating the Rate Implicit in the Lease Validating the Rate Implicit in the Lease 2. Summary 3. Related articles Under GASB Statement No. 87 Leases, the majority...