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Tax Implications of ASC 842 Leases Implementation
After being delayed for numerous years, private companies are required to adopt and implement ASC 842 Leases starting in 2022 (if not already implemented). The good news is that although […]
Evaluating Your ROU Asset For Impairment
Overview and Guidance The adoption of Accounting Standards Codification (ASC) 842 Leases introduces new considerations that must be made regarding right of use (ROU) asset valuation and impairment. When evaluating […]
Performing Remeasurements Under ASC 842, Leases
During a lease term, it is common to receive modifications to the contract between the lessee and lessor, which could result in a change in either scope or consideration for […]
ASC 842 Lease Accounting: Frequently Asked Questions
As year-end is quickly approaching and annual reporting requirements come into play, companies are still in the process of implementing the leasing guidance under ASC 842. We recently held a […]
Restaurant MasterClass: Implementing the New Lease Accounting Standard for US GAAP Financial Reporting
Webinar length: 60 min. The new lease accounting standard, ASC 842, is now effective for fiscal years beginning after December 15, 2021. Have you started implementing ASC 842, or do […]
ASC 842 Lease Implementation: Don’t Get Left Behind
After a couple of FASB deferrals, ASC 842 lease accounting standard is now effective January 1, 2022, for years beginning after December 15, 2021. That means nearly all calendar year […]