10 Steps to ASC 842 Compliance within NetSuite
Recent Blogs
Lease Accounting Explained: New Standards, Lessee vs. Lessor, Changes, Calculations, & More
1. What is lease accounting? 2. Understanding lessee vs. lessor Lessee definition Lessor definition 3. Lease accounting under the old standards 4. Lease accounting standards: changes and full examples ASC 842 IFRS 16 GASB 87 SFFAS 54 FRS 102 5. Why were new standards...
UK GAAP & IFRS Alignment: Key Changes to FRS 102 You Need to Know
Big changes are coming to accounting in the UK and Republic of Ireland. The Financial Reporting Council (FRC) has issued the most extensive revisions to FRS 102 since the standard’s initial launch in 2013. The revisions will bring UK GAAP closer to IFRS and include...
FRS 102 Section 20: A Step-by-Step Guide to Creating a Lease Inventory
In order to comply with the revised requirements for lease accounting under FRS 102, particularly those outlined in Section 20, you’ll need to conduct a thorough lease inventory. This will require you to gather, review, and consolidate your lease information. Though...
