The Deadline to Transition to the New ASC 842 Standard is December of this year. Are you Prepared?
By: LeaseQuery Let’s Start From the Beginning: What is ASC 842? ASC 842 defines leases as contracts, or portions of contracts, granting “control” of an identifiable asset for a specific period of time in exchange for payment. ASC 842, or Topic ...
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Lease Management
How to Conduct an Inventory of Your Leases
Written by: LeaseQuery There’s no way around it. In order to comply with the new lease accounting standard, you’ll need to gather lease information from multiple departments and consolidate it. This takes some serious legwork, internal ...
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Thought Leadership,
Lease Management
New Lease Accounting Rules
Prepare Now for Smoother Year-End Adoption The highly anticipated new lease accounting standard will take effect for most private companies at the end of 2022 (fiscal years beginning after December 15, 2021), six years and two adoption ...
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RKL LLP Insights,
Lease Management
