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

Posted February 17th, 2023 & filed under Blog.

Originally published 10/6/2023 and updated 2/17/2023 to include a current example of risk-free 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.

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Implementing the New FASB Lease Accounting Standard: Key Changes to Lessor Accounting

Posted February 8th, 2023 & filed under Blog.

Substantial changes are underway for lessee accounting under Topic 842, Leases. However, lessor accounting remains relatively unchanged under the new lease standard. Changes under the new standard are intended to align lessor accounting with lessee accounting guidance,

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

Posted January 5th, 2023 & filed under Blog.

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

Posted December 27th, 2022 & filed under Blog.

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

Posted November 15th, 2022 & filed under Blog.

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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