Lease Accounting Services

Lease Accounting Resource Center

The new lease accounting standard, ASC Topic 842, Leases requires companies to recognize most lease assets and liabilities on their balance sheet, which could affect everything from internal controls to debt covenants. Financial leaders who understand the lease accounting model and the step-by-step approach to implementing the new standard can help their organization manage its requirements and communicate the ASC 842 impact on their organization’s financial statement. Explore our resources below for more insight into lease accounting.

Articles

Just like your car, your lease portfolio and the checks-and-balances for the accounting standard require tune-ups and check-ins. Here’s a run-down of some things to consider.

Determining the ownership of assets for leasehold improvements is vital for any company leasing space because it directly impacts leasehold accounting. 

The leasing standard changes unveiled with the Financial Accounting Standards Board (FASB) Accounting Standards Update No. 2016-02, Leases (Topic 842) will change the way many organizations account for their leases. 

The new lease accounting standard (ASC 842) goes into effect by the end of this year for private companies that follow GAAP. A comprehensive lease inventory is the first step in the process, but a challenge is that ASC 842 means uncovering hard-to-find embedded leases. You might also find it’s necessary to rethink your lease-management software. Adopting early is a chance to get ahead and avoid getting swamped at your fiscal year-end.

The Financial Accounting Standards Board (FASB) recently issued new guidance that makes several important changes to the accounting treatment for troubled debt restructurings (TDRs). 

A deep dive into the lease discount rate determination process to guide private companies in their adoption process.

Here are three ways lease accounting technology assists with the adoption of the new lease accounting standard.
Inventorying leases is an important first step in ASC 842 adoption.
A new lease accounting standard may make adoption more cost-efficient for private entities.
A quick overview of what to expect so your company can be better prepared for its new reporting obligations under the new lease accounting standard, ASC 842. 

Melissa Henry

Director

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