Does your company have a significant number of leases? Are you required to apply accounting under Accounting Standards Codification 842, Leases (ASC 842)? If so, you may want to explore purchasing software to assist with accounting for those leases. Lease accounting...
This blog article highlights potential oversimplification hazards that controllers and accountants may face with their fundamental, yet superficial, knowledge of ASC 842. Read time: 3 minutes. Avoid the Risk of Not Knowing ASC 842 By this time, most accountants are...
In case you haven’t heard…a new accounting standard is coming that will affect accounting for business leases of all kinds for the calendar year ending December 31, 2022 (for privately owned businesses). In this blog post, I will focus on restaurant leases as this...
As you may know, the new lease standard, ASU 2016-02, Leases (Topic 842), issued by the Financial Accounting Standards Board (FASB) on February 25, 2016, is now effective for public business entities, along with certain not-for-profit entities and employee benefit...
