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How to Conduct an Inventory of Your Leases

George Azih Transition Help June 21, 2018

 

There’s no way around it. Gathering the information you need to comply with FASB Topic 842 takes good old-fashioned legwork. To ensure that you collect the right data, you need to take a...

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How and What Data to Collect for Your Lease Accounting

George Azih May 24, 2018

Adopting FASB 842 and IFRS 16 requires you to revamp your lease accounting practices. In order to transition properly and maintain compliance going forward, you’ll need to collect comprehensive...

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How to Find and Address Embedded Leases

George Azih May 24, 2018

One of the more challenging aspects of the FASB’s new lease accounting guidelines is the identification of embedded leases. Generally, an embedded lease exists in contract if the contract has an...

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Debunked: 6 Myths About the New Lease Accounting Rules!

George Azih Lease Accounting April 5, 2018

There is a LOT of misinformation about the new lease accounting rules. In this post I will address the biggest misconceptions about the lease accounting updates.

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Lease Accounting when Tenant Must Return the Asset to Its Initial Condition

George Azih Lease Accounting, FASB Topic 840 April 5, 2018

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...

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Are You Ready for the New Lease Accounting Rules that Will Impact Your Financial Statements?

The world of Lease Accounting is set for a radical makeover. In January 2016, the International Financial Reporting Standards Foundation issued IFRS 16, and in February 2016, the U.S. Financial...

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How to Create a Lease Liability Amortization Schedule Under New Lease Rules

George Azih FASB Topic 842 April 3, 2018

Our previous blog on this topic focused on one important thing: How to calculate the present value of lease payments using Excel spreadsheets. This week, we will show you how to calculate the...

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When Do I Have a Lease?

George Azih Lease Accounting, FASB Topic 840 April 2, 2018

A colleague sent an email asking me if I knew how to account for “leases that are stadium naming rights.” It was an interesting question, but confusing. A better question would be, “Are stadium...

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GAAP, IAS, and IFRS: What You Need to Know About the Lease Accounting Standards

George Azih Lease Accounting Standards March 27, 2018

For financial reporting, companies need a set of guidelines, or accounting standards, to accurately reflect the amount, timing, and uncertainty of cash flow of the business. GAAP, IAS, and IFRS...

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Sublease Accounting: Treatment of Loss

George Azih Sublease Accounting, FASB Topic 840 March 22, 2018

Our article on sublease accounting under FASB topic 840 led to many enriching discussions. Often, one answer can lead to many more. As we receive those questions, we are glad to provide easy to...

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