2025 Game Plan: Advanced Year-End Lease Accounting
The "2025 Game Plan: Advanced Year-End Lease Accounting" webinar offers a detailed exploration of complex lease accounting issues such as impairment, abandonment, and multi-layer leases, providing clear, actionable strategies for year-end financial reporting.
2025 Game Plan: Advanced Year-End Lease Accounting
Ready to tackle the intricate side of lease accounting? This webinar takes a thorough look at complex scenarios and year-end strategies. We'll break down challenging topics like impairment, abandonment, and multi-layer leases into clear, actionable steps.
Related
Accounting Today names LeaseCrunch® as a top new product of 2019
Accounting Today named LeaseCrunch®, a lease accounting software developed by former CPA auditors and designed as an "audit in a box," as a top new product of 2019 for its customizable, user-friendly interface that simplifies compliance with new lease accounting standards, supports both CPA-led and client-managed bookkeeping, and includes features like audit guidance wizards, FASB and IFRS templates, and automated disclosures to efficiently handle complex lease portfolios.
ProNexus Selects LeaseCrunch® as Lease Accounting Solution to Clients
LeaseCrunch®, a cloud-based lease accounting software designed by former CPA auditors to help implement ASC 842 and IFRS 16 standards, has been selected by ProNexus, a non-attest finance and accounting firm with 12 offices in New York and Michigan, to provide lease accounting solutions including calculation of Right of Use assets and liabilities, amortization tables, journal entries, and disclosures for their clients.
Crunchafi | Lease Accounting & Data Extraction
Crunchafi offers intuitive SaaS solutions for CPAs that automate lease accounting and financial data extraction, providing dual-access, audit-ready reports, standardized Excel outputs, and compliance with major accounting standards to streamline workflows, increase firm capacity, and enhance client relationships through secure, customizable, and user-friendly software with comprehensive support.
Accounting for ASC 842 in Your Cash Flow Statement
The article explains that under ASC 842, leases are recorded on the balance sheet as right-of-use (ROU) assets and lease liabilities without immediate cash flow impact, with operating lease payments classified as operating activities and finance lease principal payments as financing activities on the cash flow statement, while initial recognition of ROU assets and lease liabilities are disclosed as non-cash investing and financing activities, and lease cash incentives from lessors to lessees are also considered in the presentation.
In the News: FASB Releases 2022 GAAP Taxonomy
The Financial Accounting Standards Board (FASB) released its 2022 GAAP Taxonomy update, introducing new reporting elements such as credit losses excluding accrued interest, reinsurance contracts, pledged assets, debt obligations with recourse, changes in reporting entity, balance sheet offsetting, and financial statement location clarifications, while also deprecating obsolete guidance, refining labels, and modifying references to enhance clarity and usability for accounting and financial reporting.
Case Study: ProNexus Consulting
ProNexus Consulting identified the inefficiency and inaccuracy of using manual spreadsheets for lease portfolio management and pursued a more efficient, reliable lease accounting solution.