by Wesley Williams | Nov 20, 2020
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...
by Justin Shemaria | Nov 13, 2020
1. Effective date of ASC 350-40 2. The need for clarity Capitalizable vs. non-capitalizable 3. Updates to ASC 350-40 Capitalizable vs. non-capitalizable software costs 4. Initial measurement and subsequent measurement Initial measurement Subsequent measurement 5....
by George Azih | Nov 6, 2020
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...
by Kiley Arnold | Nov 2, 2020
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...
by Amanda Payne | Oct 20, 2020
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...
