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Your Lease Accounting Project: When to Start

The compliance deadline for FASB Topic 842 and IFRS 16 is nearing (January 2019 for public companies) and your transition should be underway. However, with all you have to do, we understand...

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Outsourcing Your Lease Accounting: 4 Best Practices to Consider

You’re busy. With limited time and resources, and not enough people on staff, you’re considering passing the monumental task of transitioning to FASB Topic 842 and IFRS 16 on to an auditor and/or...

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Attention CFOs and Controllers: With New Lease Accounting Standards Looming, Prevent Having to Update Your Resume in 2019

George Azih FASB 842, FASB Topic 842, Accounting June 29, 2018

What's at Stake if You Don't Comply with the New Lease Accounting Standards

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Why Using Excel Will Set You Up for Non-Compliance.

George Azih Accounting in Excel, FASB Topic 840, FASB Topic 842 June 29, 2018

Excel is an accountant’s best friend. The ubiquitous software has been around for over 30 years and most of us can’t imagine a world without it. It seems like it can do anything.

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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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