ASC 842 Simplified with Step-by-Step Examples

The Ultimate Lease Accounting Guide

	ASC 842 Updates. Learn the most important changes between ASC 840 and 842. Balance sheets, ROU, and more.
	Step-by-Steps. Calculate lease liability, determine lease term, account for operating vs finance leases, and much more.
	Lease Classification. The 5 criteria for classifying leases. Differences between finance & operating leases.

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Lease Classifications. 5 tests for classifying leases as finance or operating under ASC 842.
Finance Lease Accounting. How to account for a finance lease including a sample amortization schedule and journal entry.
Operating Lease Accounting. Account for an operating lease, including 2 must-haves for your lease disclosure.
Transition. How to transition under ASC 842 and the 3 practical expedients you need to identify.
Lease Changes. The difference between modifications and remeasurements. How to account for a termination.
Lessee Classifications. Including step-by-step subleasing and 2 need-to-know methods for sale-leaseback accounting.