Understanding Lease Standard ASC 842 - Kabat, Schertzer, De La Torre, Taraboulos & Co.

[social_buttons facebook=”true” twitter=”true” linkedin=”true”]

Stay compliant with The Standard ASC 842

Increase transparency and comparability in financial reporting
Requires lessees to recognize most leases on their balance sheets
Recognize operating leases and finance leases
Record right-of-use (ROU) assets and lease liabilities
Lease term and present value of lease payments determine recognition and measurement
Different treatment for operating leases and finance leases in income statements
Additional disclosures to provide users with more information

How Can We Help?

Timing is critical in financial reporting. Under accrual-basis accounting, the end of the accounting period serves as…

Running a closely held business is challenging. Owners usually prioritize core business operations — such as managing…

In today’s competitive business landscape, controlling costs while investing in talent has become a delicate balance. For…

Does your business require real estate for its operations? Or do you hold property titled under your…