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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 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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7 Facts About Operating Leases Under the New Lease Accounting Rules

editor's note: to determine capital leases vs. operating leases, take our free test. 

This blog post summarizes – in plain English – Operating leases under the upcoming lease changes.

Operating...

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5 Questions to Ask Potential Lease Accounting Software Vendors if You Lease Equipment

Chris Ramsey Lease Accounting, Lease Accounting Transition January 30, 2018

Do you report under GAAP or IFRS?  If so, you are most likely large enough to have both equipment and real estate leases in your portfolio.  After speaking with hundreds of companies, LeaseQuery,...

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IFRS 16 Transition Series for Lessees – Example 2

George Azih IFRS 16, Lease Accounting Transition January 3, 2018

To read the first example of the IFRS 16 transition series for lessees, click here

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IFRS 16 Transition Series for Lessees – Example 1

George Azih IFRS 16, Lease Accounting Transition December 19, 2017

How to transition from an operating lease under current IAS 17 to the single lessee accounting model – a finance lease using the cumulative effect approach?

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Lease Accounting Transition Guide for FASB 842 and IFRS 16 Part II: Step by Step Guide on Adopting the New Lease Accounting Standards

Note that this is the second part of a series of blog articles addressing how to adopt the new lease accounting standards for FASB 842 and IFRS 16. To read part 1, please click here.

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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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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

We've updated our transition guide Click here to take it with you

 

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

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Key Differences Between Current GAAP and The New Lease Standard

George Azih GAAP, Lease Accounting Transition December 6, 2016

Key Differences Between Current GAAP and The New Lease Standard

In this post we will address the differences between current GAAP and the FASB new lease accounting standard, with a focus on...

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