Implementing the New FASB Lease Accounting Standard: Choosing the Right Software

The new leasing standard ASC Topic 842 Leases has been in the works for a number of years but is effective for private companies and certain not-for-profit organizations for annual periods beginning after December 15,

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Implementing the New FASB Lease Accounting Standard: Lease Classification

Accounting Standards Update No. 2016-02, Leases and Subsequent Updates (Topic 842), classifies leases into finance leases and operating leases. The major distinction is that a finance lease,

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Implementing the New FASB Lease Accounting Standard: Scope Exceptions

To appropriately implement Accounting Standards Update No. 2016-02, Leases and Subsequent Updates (Topic 842), it is crucial to identify any scope exceptions to the new lease accounting standard. The scope of Topic 842 is substantially the same as lease accounting under legacy US GAAP,

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Implementing the New FASB Lease Accounting Standard: Calculating the Lease Liability

Calculating the lease liability is a fundamental aspect of accounting for leases under the new lease accounting guidance, ASC 842. Not only does it determine the liability on the balance sheet,

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Implementing the New FASB Lease Accounting Standard: About the Discount Rate

Your discount rate, which impacts both lease liability and lease classification, is a key item to understand and determine as you begin implementation of Accounting Standards Update No. 2016-02 and subsequent updates (Topic 842).

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