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A Complete Guide to ASC 842 Journal Entries: ASC 842 with Examples
What are the Two Types of Leases Under ASC 842?
What are the Entries for ASC 842?
Blog
Read about ASC 842 & other lease accounting topics.
Finance vs Operating Leases: What’s the Difference?
The Financial Accounting Standards Board changed the lease accounting game forever when they declared the ASC 842 new lease accounting standard.
What Does GASB 87 Do? Everything You Need to Know
Lease accounting gets increasingly complicated with each new accounting standard introduced by the Governmental Accounting Standards Board, also...
Accounting for GASB 87 and GASB 96
GASB 87 and GASB 96 are similar, yet very different. Both share the characteristic of further complicating lease accounting in the name of financial...
What is Capital Lease Accounting?
Quite a while ago, the term ‘capital leases’ was dropped by FASB.
Using the Straight-Line Method of Expense in Lease Accounting
First things first: Let’s set some definitions straight, because straight-line expense is different from straight-line amortization and straight-line...
What is Sale and Leaseback?
A sale and leaseback agreement is a transaction where the seller of an asset becomes the lessee and the purchaser becomes the lessor. Nothing changes...
When the New Lease Standard Goes Into Effect and Other Key Dates
In February of 2016, the Financial Accounting Standards Board proposed a new lease accounting standard known as ASC 842. After delays for non-public...
What Are the Disclosure Requirements Under GASB 96?
The Governmental Accounting Standards Board (GASB) Statement No. 96, known as GASB 96, has ushered in a new era of accounting guidelines for...
What is the Lease Discount Rate?
Navigating the complexities of lease accounting can be a daunting task, especially with the introduction of lease accounting standards like ASC 842, ...
What Are the Three SBITA Stages of Implementation?
In today’s rapidly evolving digital environment, many organizations have implemented new regulations to ensure equity, fairness, and transparency...
GASB 96: Understanding SBITA in 2023
As the apparent need for new accounting guidelines arises, accounting organizations work around the clock to craft rules that address the grumbles of...
What is Incremental Borrowing Rate?
Before we define what an incremental borrowing rate (IBR) is, let’s do a brief overview of two of the most important changes to lease accounting...
From Spreadsheets to Lease Accounting Software: Leave it in the Past
You’ve probably heard a lot about spreadsheets in relation to lease accounting. Perhaps after your first audit with the new lease standards, you’re...
