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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.

Myth 1: All leases will be...

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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? (PT. I)

IFRS 16 and FASB 842

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,...

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

George Azih FASB Topic 842 April 3, 2018

Last week’s blog 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 present value of...

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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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How To Transition From Current to the New Lease Accounting Rules: A Comprehensive Example.

George Azih Lease Accounting Transition March 20, 2018

Editor’s note 3/20/18: we have updated this article for clarity and consistency. Additionally, we had a reader ask for a clarification of how rent free period will be shown on the amortization...

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Accounting for Subleases Under GAAP: The CORRECT Way

George Azih Lease Accounting, GAAP, Sublease Accounting March 12, 2018

*editor's note 3/12/18. This post was published 12/7/2016. We have updated this post for consistency and accuracy based on the current lease accounting standards under FASB 840. We have also...

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Lease Accounting: When Early Access is Granted to Part of a Building at First, then the Rest Later

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

*editor’s note, 3/5/18, this article was originally published 11/22/16. We have updated the article for accuracy and timeliness. Additionally we have included clarification for a question from a...

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