Have you ever entered into an operating lease for a building, constructed leasehold improvements, and determined based on the provisions of the lease that you are legally obligated to remove the...
On June 16, 2021, the FASB issued a proposed Accounting Standard Update (ASU), or amendment to ASC 842. The amendment affects private companies and not-for-profits that have not yet adopted ASC 842....
1. Accounting for amendments resulting in additional assets under ASC 840 Example: Accounting for amendments resulting in obtaining additional asset(s) under ASC 840 2. Accounting for amendments...
1. Equity method 2. Equity method of accounting Partial disposal Example: How to account for an equity method disposal resulting in a loss of significant influence 3. Summary 4. Related articlesThis...
1. Accounting for a sublease under ASC 840 2. A comprehensive example of sublease accounting under ASC 840 Straight-line amortization schedule for the head lease Accounting for an operating sublease...
When the FASB released its new lease accounting standard in 2016, and GASB in 2017, lease accounting was revolutionized. Hailed as one of the biggest changes to accounting in decades, it quickly...
1. What is the equity method of accounting? 2. When do you apply it? 3. How to determine if the equity method is applicable 4. Accounting for an equity method investment 5. Required disclosures 6....
1. Understanding IRS Section 179 Section 179 and bonus depreciation 2. How IRS 179 affects lease vs. buy considerations 3. How new lease guidance affects lease vs. buy decisions 4. Getting it right...
1. Will I need to impair my assets due to COVID-19? 2. What is an impairment? Do you have impairment indicators? Is your asset recoverable? How do I calculate impairment? 3. Related articlesWill I...
