Accounting for COVID-19 Lease Concessions
LeaseQuery’s lease accounting experts explain the accounting options for lease concessions granted due to COVID-19. The new relief provisions offered by the FASB for efficient lease accounting during the pandemic will be covered, along with several examples of how to apply.
Recent Blogs
The Hidden Costs of Sticking with a Subpar Lease Accounting Solution
As accountants, we're the guardians of financial accuracy. Lease accounting, especially with the complexities of ASC 842, IFRS 16, and FRS 102 demands precision. But what happens when we rely on subpar solutions like spreadsheets or outdated software? We expose our...
Why Lease Accounting in Excel Will Set You Up for Non-Compliance
Excel is an accountant’s best friend. The ubiquitous software has been around for roughly 40 years and most of us can’t imagine a world without it. It seems like it can do anything. Unfortunately, to comply with FASB Topic 842, IFRS 16, FRS 102, as well as GASB 87,...
Making the Case for Switching Lease Accounting Software
Switching lease accounting software might seem intimidating, especially when familiarity and cost control are top of mind for most companies. Many companies stick with what they know, but sticking with outdated or inadequate tools can lead to inefficiencies, errors,...
