Lease Accounting
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Lease Accounting Cycle (ASC 842)
This comprehensive visual shows exactly how ROU assets, lease liabilities, interest expense, and amortization flow through each stage from transaction identification to closing entries. Learn how lease accounting impacts journal entries, general ledger accounts, adjusting entries, and all three financial statements…
Preparing for ASC 842 Audits: Building a Reliable Lease Accounting Trail
Learn what auditors look for under ASC 842, common compliance pitfalls, and how automation can simplify audit readiness and strengthen your lease accounting process.
FASB Lease Accounting Roundtable: Key Takeaways from the September 12, 2025 Session
On September 12, 2025, the FASB held a public roundtable to review the effectiveness of ASC 842. Stakeholders discussed benefits, costs, and continuing challenges. Here are the main takeaways for accounting teams and executives.
iLeasePro Achieves SOC 1 Type 2 Certification for Lease Management & ASC 842 Compliance
iLease Management LLC and iLeasePro have attained SOC 1 Type 2 certification, validating operational controls and strengthening client trust. This milestone ensures greater security, audit readiness, and compliance for lease management and ASC 842 accounting.
iLeasePro Empowers Companies with ASC 842 Lease Accounting Compliance and Significant Cost-Saving Benefits
iLeasePro expands its ASC 842 capabilities, helping organizations streamline lease management from abstraction to disclosure—cutting audit time and costs while delivering accurate, compliant reporting.
ASC 842 Six Years Later: Transparency Gains, Costs Keep Rising
Six years on, ASC 842 delivers real transparency—bond markets price lease risk, banks assess credit more accurately, and analyst forecasts improve. But private companies face recurring costs and Day-2 complexity. Here’s what FASB could refine next, with links to key research.
How Every Accounting Role Contributes to Lease Accounting (ASC 842/IFRS 16)
Discover how lease accounting compliance and insights depend on every finance role. This guide shows contributions, impacts, risks, collaboration, and strategic value for 15 roles, ordered by collaboration, plus a matrix for quick reference.
Cost Analysis and Lease Accounting: Why They Work Better Together
Understand what cost analysis and lease accounting each do, how they reinforce one another, and the risks of separating them. Includes a 5-year equipment lease example with assumptions, calculations, and a variance table.
Audit Readiness Checklist for ASC 842 Compliance: What Your Auditors Will Ask This Fall
Your fall playbook for ASC 842 audit success—what auditors test, the evidence they expect, pitfalls to avoid, and how iLeasePro helps you finish early with fewer adjustments.
ASC 842 Lease Accounting Guide With Real Estate & Equipment Examples
A practical ASC 842 walkthrough with operating and finance lease examples (office space and equipment), sample journal entries, measurement inputs, disclosure checklist, and internal links for deeper dives on embedded leases, discount rates, and modifications.
ASC 842 Sale-Leasebacks: What Companies Need to Know
Under ASC 842, sale-leasebacks move owned property off the books and bring right-of-use assets and lease liabilities onto the balance sheet. This article explains finance vs. operating lease classification, provides journal entry examples, and highlights risks including leverage impact, variable payments, and covenant compliance.
How to Calculate the Incremental Borrowing Rate
A step-by-step guide for private companies to determine and update the IBR under ASC 842, including asset class strategies and pros and cons of IBR vs. risk-free rate.
ASC 842 Made Simple: Complex Lease Accounting Explained
Lease accounting under ASC 842 doesn’t have to be confusing. Learn how to understand complex transactions—like lease liabilities, right-of-use assets, and lease modifications—using relatable, real-world examples.
How ASC 842 Changes the Top 10 Essential Accounting Reports
ASC 842 changes how leases appear in key accounting reports, from the balance sheet to the cash flow statement. Learn how these changes impact your financial reporting and compliance…
Avoiding Top 6 Common Pitfalls in ASC 842 Compliance
ASC 842 compliance presents challenges such as lease misclassification, poor data management, and incorrect discount rates. This guide covers the top 6 key pitfalls, solutions, and resources to help businesses navigate lease accounting effectively and stay compliant…
CPA's Safeguard ASC 842 Compliance and Avoid Audit Failures
Audits under ASC 842 can be challenging, but with the right strategies, you can avoid errors and ensure compliance. Discover how centralized lease data, automation, and robust processes help safeguard your audit readiness and protect your clients from non-compliance risks…
Calculate IBR for ASC 842 Compliance
The Incremental Borrowing Rate (IBR) is crucial for ASC 842 compliance, determining the present value of lease liabilities and right-of-use assets. This guide provides step-by-step instructions to calculate the IBR, including assessing creditworthiness, identifying market interest rates, and adjusting for lease-specific factors. Avoid common pitfalls like relying solely on risk-free rates and ensure accurate documentation. Tools like iLeasePro can simplify the process by automating calculations and ensuring compliance…
What is Lease Liability under the ASC 842?
This post explains the concept of lease liability under ASC 842, a critical component of modern lease accounting. Discover how to calculate lease liability, understand its implications, and review example amortization schedules for operating and finance leases to ensure compliance with the standard…
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