1. Interest rates under ASC 842 2. Implicit rate Application of the implicit rate 3. Incremental borrowing rate (IBR) Application of the incremental borrowing rate 4. Risk-free rate Expedient option...
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GASB 87 Disclosure Requirements for Lessees Explained with Examples
1. Qualitative disclosures 2. Quantitative disclosures Lease asset disclosure Lessee’s outflow of resources Lease liability disclosure and maturity analysis Future lease commitments Short-term...
Financial Statement Audits for Leases: Testing
1. Completeness and existence 2. Documentation of policies 3. Accuracy of calculations 4. Presentation 5. Summary 6. Related articlesThis is the third segment of an article targeted at private...
Leasehold Improvements Accounting and Amortization under US GAAP
1. Common examples 2. Accounting for leasehold improvements Amortization of leasehold improvements Example of leasehold improvement amortization 3. Leasehold improvements and AROs 4. Bonus...
Interest Rate Implicit in the Lease under IFRS 16 Explained
1. What is the implicit interest rate under IFRS 16? Implicit rate: ASC 842 vs. IFRS 16 2. Example: Calculate the interest rate implicit in a lease under IFRS 16 3. Summary 4. Related articlesWhat...
Accounting for Rent Concessions under IFRS 16 as a Result of the COVID-19 Pandemic
1. Background 2. Changes to lease payments under COVID-19 3. IASB response 4. Accounting for COVID-19 lease concessions example 5. Accounting for lease concessions within the modification framework...
Rent Concession Accounting under ASC 842 during COVID-19: Full Explanation and Example
1. COVID-19 Background 2. Changes to lease payments under COVID-19 3. Accounting for COVID-19 lease concessions Deferral of payments Payment reductions Summary 4. Accounting for lease concessions...
Lease Liability Amortization Schedule: How to Calculate It in Excel
1. What is lease liability? 2. How to create the lease amortization schedule and calculate your lease liability Create five-column spreadsheet Enter the number of periods and cash payments Enter...