The US Financial Accounting Standards Board (FASB) recently completed its Post-Implementation Review (PIR) of ASC 842, the US lease accounting standard. While you may be focused on your own FRS 102 transition for operating leases, there are critical, high-cost lessons...
CONTENT BY
Emily Fish, Director, Product Accounting
Emily Fish is a seasoned accounting and finance expert with over 15 years of experience. From her leadership roles as Director of Finance at multiple organizations, she brings practical insights into complex accounting standards, including the new lease accounting rules. Emily holds a BA from The University of Kansas and an MBA from Avila University.
Streamline Accrual and Prepaid Accounting with Catch-up Entries
Accountants act as an organization’s financial record keepers, meticulously documenting and reporting past financial transactions. But, challenges arise when documents like invoices or contracts arrive after a financial period closes, forcing accountants to make...
How Accountants Can Maintain Accurate Accrual and Prepaid Accounting When Invoices Are Late
Late invoices — they’re a fact of life in accounting. Whether caused by a vendor’s slow processing or misplaced paperwork, these delays can wreak havoc on financial records, especially in accrual and prepaid accounting. When invoices arrive after the expected period,...
Don’t Get Caught Off Guard: A Step-by-Step Guide to Facing a Software Sunset
The sun is setting on your lease accounting software. The software you rely on might be reaching its end-of-life, with no further updates or security patches. Or perhaps the vendor is phasing it out entirely, leaving you without critical support. Now you are on the...
Stop the Scramble! Why Uploading Your Lease Documents Now Will Save You Time During Your Next Audit
Audits are stressful enough without having to scramble for documents. One way to streamline the process and reduce stress, at least for the lease accounting portion of your audit, is to ensure all your lease information is readily available and organized. That's where...