The ASC 842 lease accounting standard, which mandates significant changes in how companies recognize and report their lease obligations, has far-reaching implications beyond just the domain of accounting. Its ripple effects extend into the tax realm, where intricate nuances can translate to substantial fiscal implications. For CFOs, navigating this maze without expert guidance is not... Continue Reading →

The ASC 842 lease accounting standard, introduced by the Financial Accounting Standards Board (FASB), brought forth a paradigm shift in the way companies recognize and report lease obligations. While its primary aim was to enhance transparency in financial reporting, its complexity and nuances have paved the way for potential misunderstandings and misapplications. As the Chief... Continue Reading →

In the multifaceted realm of lease accounting, subleases represent a unique area of focus, especially with the enforcement of the ASC 842 standard. For a Chief Financial Officer (CFO), the ability to adeptly navigate the intricacies of subleasing can serve as a potent tool in the quest to optimize tax exposure. This article delves into... Continue Reading →

In the dynamic environment of modern business, lease agreements aren't always static. They can be frequently modified to reflect changing business conditions or renegotiated terms between lessees and lessors. With the introduction of ASC 842, the manner in which these lease modifications are recognized and measured has profound implications for a company's financial statements and,... Continue Reading →

The introduction of the ASC 842 lease accounting standard has undeniably ushered in a new era of transparency and rigor in how companies account for their lease obligations. Among the various nuances of this standard, one term that has gained notable prominence is the Incremental Borrowing Rate (IBR). But how does the IBR intertwine with... Continue Reading →

In the intricate financial landscape navigated by Chief Financial Officers (CFOs), every decision has a ripple effect on a company's bottom line. One of the pivotal areas under the spotlight, especially with the advent of the ASC 842 lease accounting standard, is the structuring of lease terms. Let's dive deeper into the strategic significance of... Continue Reading →

Implementing the ASC 842 lease accounting standard can be complex, and it's essential for private companies to understand its implications and potential strategies to minimize tax exposure.  We have outlined key strategic initiatives that should be considered to potentially reduce your corporate tax exposure. (Click on the title to dig in deeper on the topic)... Continue Reading →

ASC 842 is the lease accounting standard issued by the Financial Accounting Standards Board (FASB) that requires lessees to recognize assets and liabilities for most leases on their balance sheet. While ASC 842 primarily impacts financial reporting, it can also have tax implications. Let's walk through some potential tax implications and how they might be... Continue Reading →

The introduction of ASC 842 brought about significant changes to how companies account for leases in their financial statements. While the primary focus of ASC 842 is on accounting and financial reporting, it can also have indirect effects on taxation. Below are some of the specific ways in which the ASC 842 lease accounting changes... Continue Reading →

In the world of finance and accounting, keeping up with regulatory requirements can often be a daunting task. One of the more recent standards to be introduced is the ASC 842, which pertains specifically to lease accounting. Successfully completing an ASC 842 lease accounting audit requires diligence, understanding, and a well-defined approach. Let's dive into... Continue Reading →