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Tax Effect of Deferred Rent Under Current GAAP Lease Accounting Rules

George Azih Lease Accounting, GAAP, Tax, Deferred Rent Accounting August 29, 2017

In this blog post, we will explain how deferred rent affects income tax under current lease accounting rules. We want to stress that this blog post covers it and income taxes under CURRENT rules...

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Why Your Accounting for Tenant Improvement Allowances is Dead Wrong.

Russell Bowles Tenant improvement allowance accounting December 20, 2016

In this post, I will explain the correct way to account for Tenant Improvement Allowances and other Lease Incentives under the current GAAP lease accounting rules.  Note that incentives refer to...

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How to Account for Lease Amendments that Expand the Leased Premises

George Azih FASB Topic 840 December 8, 2016

In a prior post, we explained how to account for leases when the Tenant MUST expand the premises under the terms of the initial lease. In this blog post, we will explain how to account for a lease...

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6 Lease Accounting Errors You’re Making (And How to Fix Them) - Part 1

George Azih Lease Accounting Errors December 8, 2016

To err is human. To forgive is against company policy. Our last blog addressed how to Account for Lease Amendments that Expand the Leased Premises. In today’s article, we will explain the 6 common...

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FASB/IASB Lease Accounting Divergence

George Azih Lease Accounting Transition, FASB Topic 842 December 7, 2016

FASB/IASB lease accounting “Divergence.”  Far from converging, the FASB and IASB have decided to take different routes concerning lease accounting. While both boards decided to capitalize all...

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New Accounting Rules: Accounting for Subleases

George Azih Sublease Accounting, FASB Topic 842 December 7, 2016

The FASB and IASB decided that an intermediate lessor (that is, an entity that is both a lessee and a lessor of the same underlying asset) should account for a head lease and a sublease as two...

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How to transition from an operating lease under current GAAP to an operating lease under the new lease accounting standard (Topic 842)

George Azih Operating Lease, Lease Accounting Transition December 7, 2016

In this post I will explain how to transition from the current lease accounting rules to the new lease accounting rules. Specifically, we will discuss how to go from an operating lease under...

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Summary of Lease Accounting Changes as of 12/31/2014

George Azih Lease Accounting Updates December 7, 2016

SUMMARY of the New Lease Accounting Rules and Lease Accounting Changes

As it’s the end of the year, we thought it would be a good idea to recap the decisions reached by the FASB and IASB about...

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Summary of FASB’s January 2015 Meeting on Leases…In Plain English

George Azih IASB, Lease Accounting Updates, FASB Topic 842 December 7, 2016

On Wednesday, January 21, 2015, the FASB and IASB boards had a VERY LONG meeting on leases. Here is the outcome of the meeting, as always, in plain English. The meeting focused on disclosure...

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5 Simple Reasons Excel isn't Suitable for Lease Accounting

George Azih Accounting in Excel December 7, 2016

Why do you track leases?  You probably monitor your leases for the very simple reasons of knowing how much you pay for rent, your renewal notification deadlines, and tracking common area...

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