Staying Compliant With ASC 842

Compliance is not a one-off adoption exercise. A lease portfolio changes — terms are extended, options are exercised, data is re-abstracted — and each change has to find its way into the numbers. These articles cover what the standard requires, how to present it, what to do when a lease changes, and how to keep the underlying data trustworthy between reporting periods.

18 articles across 6 groups.

Start here ASC 842 Implementation Guide: Steps, Examples, Checklist

Scope through disclosure, with worked figures at each step.

What the standard requires

The obligation itself, and the discount rate judgement that drives the numbers.

ASC 842 Lease Accounting Made Simple | iLeaseProWhat is ASC 842 lease accounting in simple terms? How does ASC 842 impact financial statements?
Incremental Borrowing Rate: Formula and MethodologyWhat is the Incremental Borrowing Rate (IBR) methodology in ASC 842? How is the Incremental Borrowing Rate calculated under ASC 842?
Portfolio vs Lease-Specific IBR: When Each AppliesWhat is the difference between portfolio and lease-specific IBR under ASC 842? When should a portfolio approach to IBR be used for ASC 842 compliance?
IBR for Companies Without External Debt | iLeaseProHow do companies without external debt calculate IBR for ASC 842? What factors influence the IBR for debt-free companies under ASC 842?

Presentation on the face of the statements

Current vs Non-Current Lease Liabilities: How to Split ThemWhat is current/non-current classification in financial reporting? Why is current/non-current classification important for ASC 842?
Deferred Rent With a Lease Extension: How to RecalculateWhat is deferred rent under ASC 842? How is deferred rent calculated and recognized under ASC 842?

When the lease changes

Extensions, terminations and scope changes, and which of them reopen the liability.

ASC 842 Lease Extensions and Early TerminationsHow are lease extensions accounted for under ASC 842? What is the accounting impact of early lease terminations?
ASC 842 Modification Accounting Decision | iLeaseProHow to account for ASC 842 lease modifications? What are the steps in the ASC 842 lease modification accounting decision framework?
ASC 842 Remeasurement Triggers Checklist | iLeaseProWhat are the common remeasurement triggers under ASC 842? When is remeasurement required for leases under ASC 842?
Lease Modification Documentation: What to CaptureWhat documentation is required for ASC 842 lease modifications? How long should lease modification documentation be retained?

Keep the data trustworthy

Everything downstream inherits the abstraction, so errors here compound.

Common Lease Abstraction Errors & Financial | iLeaseProWhat are the most common lease abstraction errors? How do lease abstraction errors financially impact a company?
ASC 842 Lease Abstraction: Data Quality | iLeaseProWhy is lease abstraction accuracy important for ASC 842 compliance? What are the key data quality standards for ASC 842 lease abstraction?
Quality Control Procedures for Lease Abstraction | iLeaseProWhat are the key quality control procedures for lease abstraction? How can lease abstraction quality control prevent audit discrepancies?

Stay compliant between periods

ASC 842 Lease Management Best Practices Guide | iLeaseProWhat are the key ASC 842 lease management best practices for controllers? How can controllers ensure ASC 842 compliance in lease management?
Continuous Lease Accounting Compliance | iLeaseProHow can organizations maintain continuous ASC 842 compliance? What are the key components of a sustainable lease accounting compliance program?
Lease Lifecycle Governance for ASC 842 | iLeaseProWhat is lease lifecycle governance in ASC 842 compliance? How does lease lifecycle governance ensure ongoing ASC 842 compliance?

Healthcare

Healthcare Lease Accounting Under ASC 842 | iLeaseProHow does ASC 842 specifically impact healthcare organizations' balance sheets and financial reporting? What are the key challenges healthcare …
ASC 842 Hospital Real Estate Lease Compliance | iLeaseProWhat are the unique challenges hospitals face with ASC 842 compliance? How do hospital real estate leases complicate ASC 842 financial reporting?

Other topicsAudit Close Controls Disclosures Financial Reporting Healthcare Implementation Lean Accounting Lease Abstracting Lease Accounting Lease Analysis Lease Management Press Release Product Updates Regulatory Updates

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