Using the Audit to your Advantage: Steps to Take Now for a Smooth Transition
This webinar focuses on steps that private companies (and their auditors) can take during the next fiscal year to prepare for the effective date of ASC 842. LeaseQuery experts discuss strategies for each phase of the audit cycle – planning, assessing risks, testing, and reporting.
Recent Blogs
Is Your Lease Accounting Ready for the Next Level? 5 Telltale Signs You’re Outgrowing Your Current Setup
It’s a classic tale in business: what got you here won’t necessarily get you there. This is especially true for lease accounting. The systems and processes that worked perfectly when your lease portfolio was smaller and simpler can start to show cracks as your...
Impairment of Leased Assets and the Right-of-Use Asset under ASC 842 and IFRS 16
1. What is an impairment? Do you have impairment indicators? Is your asset recoverable? How do I calculate impairment? Subsequent accounting Reversal of impairment losses 2. Summary 3. Related articlesWhat is an impairment? In accounting, an impairment loss occurs...
Interest Rates under ASC 842 Explained: Incremental Borrowing, Implicit, and Risk-Free
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 Application of the risk-free-rate Proposed FASB amendment 5. Summary...
