What is deferred rent? What are deferred taxes? Tax expense recognized under ASC 842 Initial direct costs Deferred tax examples and journal entries: Applying to lease accounting Summary Related articles You may wonder – with the deferred rent classification...
What is asset retirement in accounting? What is an Asset Retirement Obligation (ARO)? ASC 410: ARO accounting and environmental obligations ASC 410-20 and interactions between ASC 410 and ASC 842 How to perform the accounting for an ARO What is accretion expense? Is...
Lease Options During Covid-19: Your Questions Answered As the COVID-19 pandemic continues to impact our health and economy, many lessees are looking for ways to reduce their expenses – rent being at the top of the list. LeaseQuery’s CEO and Founder, George Azih...
Lessor vs. lessee Lessor definition Lessee definition Lessee vs. lessor accounting Lessor accounting: Full example of a finance lease under GASB 87 Lessor vs. lessee In accounting, the terms “lessor” and “lessee” are used to identify the different parties involved in...
This article was written in collaboration with LeaseQuery’s partner in easing the burden of lease accounting and closing the books efficiently, FloQast. Whether it’s ensuring compliance, completing an audit or closing the books at month’s end, tight deadlines are all...
