Accounting for a Finance Lease Under ASC 842
What does ASC 842 mean in practice if your real estate portfolio consists of finance leases? Well, the first change…
Implicit Interest Rates Simplified: Your Ultimate Guide
When accounting teams come across the term implicit interest rate, a quick search will tell them that this refers to…
Learn How to Calculate Lease Liability With This Step-by-Step Guide
One of the major changes that came with the transition from ASC 840 to ASC 842 was that leases must…
2 Examples of Operating Lease Accounting Under ASC 842
At the end of the 2020 fiscal year, the Financial Accounting Standards Board (FASB) made it mandatory for private, public,…
An Overview of ASC 840: What Every Accountant Needs to Know
ASC 840 was the original accounting standard for leases that allowed companies to disclose their leases in the notes of…
The Definitive Comparison of IFRS 16 vs. ASC 842
Two new accounting standards put in place within the last three years have forever changed the way businesses report their…