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What Are Right Of Use Assets?
A right of use asset, or ROU, is a lessee’s right to use an asset over the course of a lease. More formally stated, an ROU asset is any non-monetary asset […]
ASC 842: Transitioning Leases and Why Equity Likely Isn’t Affected
When the changes in an accounting standard impact assets or liabilities, we are accustomed to the difference flowing through equity. The new lease standard, ASC 842, is different because equity is […]
Separating Lease And Nonlease Components
Not all costs related to a lease are included in the leased asset and liability. For example, a contract may include both a truck and operation of the truck on […]
What Qualifies As A Lease Under The New Lease Standard?
Not all arrangements qualify as a lease under the new standard. Of course, sometimes it’s easy to figure out if it’s a lease: renting your office space definitely qualifies as […]
2021 Accounting & Auditing Update
Webinar length: 8 hrs. As companies prepare for the upcoming audit season while continuing to navigate the ever-changing business conditions, a little preparation can go a long way! As presented […]
Accounting For The Employee Retention Tax Credit
As many companies are taking advantage of the Employee Retention Credit (ERC), questions have been raised as to how the ERC should be accounted for. Because the ERC is not […]