The Secret Benefits of Lease Accounting Software
Lease accounting can be a complex and time-consuming task, especially for companies with a large number of real estate or…
What is Straight Line Expense and How To Calculate It
Straight line expense, also known as the straight line depreciation method, straight line basis, or simply the straight line amortization…
Understanding the ROU Asset Journal Entry
ASC 842 fundamentally changed how accounting departments build their organization’s balance sheet, income statement, and cash flow analysis. In this…
What is ASC 842? Lease Accounting Guide
Generally accepted accounting practices (GAAP) for lease accounting instituted ASC 842 (replacing ASC 840) in 2019, requiring organizations to record…
Completeness Assertion – What Does it Mean In Lease Accounting?
The completeness assertion is a critical component of lease accounting under ASC 842, and it is essential for businesses to…
Commercial Lease Types Explained
Commercial leases are agreements between landlords and tenants for the rental of commercial properties. There are several commercial lease types,…