Initial recognition– This transaction uses the calculated net present value so that it can be reported on the balance sheet. The accounting entry for this transaction is generated automatically, but it must be posted by the user. This transaction debits the right-of-use asset account and credits...
Direct finance lease accounting is similar to sales-type lease accounting. In a direct finance lease agreement, the lessor transfers substantially all of the risks and rewards of ownership of the asset to the lessee. A lease is classified as a direct finance lease if it meets any one of the...
Contingencies are frequently included in lease arrangements and their accounting for is dependent on the likelihood of the future event occurring. Similar to residual value guarantees, which are an example of a contingency event, remeasurement of lease payments for contingencies are required when some o...
Q: How do I make sure that the lease and loan system will stay in sync with my third-party accounting system? The march of technological improvement has led many to expect that kind of syncing to happen as a matter of course. You may be surprised to learn how often it...
Initial recognition– This transaction uses the calculated net present value so that it can be reported on the balance sheet. The accounting entry for this transaction is generated automatically, but it must be posted by the user. This transaction debits the right-of-use asset account and credits...
Initial recognition– This transaction uses the calculated net present value so that it can be reported on the balance sheet. The accounting entry for this transaction is generated automatically, but it must be posted by the user. This transaction debits the right-of-use asset account and credits...
Initial recognition– This transaction uses the calculated net present value so that it can be reported on the balance sheet. The accounting entry for this transaction is generated automatically, but it must be posted by the user. This transaction debits the right-of-use asset account and credits...