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The implementation of ASC 842 brings about changes to lease accounting standards that directly impact both lessors and lessees. As a lessor, understanding the implications of ASC 842 on your...

How does ASC 842 affect EBITDA? The adoption of ASC 842, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB), has brought significant changes to the...

In the complex world of lease-related processes, it’s crucial for finance and accounting professionals to distinguish between lease management and lease accounting systems. These two distinct solutions serve unique purposes...

Lease accounting standards have significantly changed in recent years, resulting in new rules and calculations for right-of-use (ROU) assets and lease liabilities. Lessees and lessors must familiarize themselves with these...

Straight-line depreciation is a crucial concept in accounting, allowing businesses to spread the cost of an asset over its useful life. This method is widely used due to its simplicity...

In today’s business landscape, the finance and accounting sectors face mounting pressures especially with complex accounting. The dual demands of strict deadlines and ensuring accurate financial representation stretch accounting professionals...

In the world of finance and accounting, effective asset management for both fixed assets and leased assets is the cornerstone of revenue generation. However, it’s essential to understand that the...

In the realm of finance and accounting, the importance of lease amortization schedules is paramount. This strategic financial tool helps in structuring lease payments, ensuring transparent financial reporting, and staying...

In today’s evolving business landscape, CFOs and their teams face a myriad of challenges. Among these, are the challenges around lease accounting including lease modifications and reassessments. ASC 842 and...

Introduction For new finance leaders stepping into fresh roles, or for seasoned professionals gearing up for finance transformation, there’s an uncharted territory that promises significant returns: lease accounting. This realm,...

When we mention lease accounting software, the immediate association is with financial reporting. Given the complexities and ever-evolving standards like IFRS 16 and ASC 842, it’s no wonder that the...

In this article, we explore lessee vs lessor intricacies of ASC 842. At Black Owl Systems, we constantly stay updated with the latest industry standards to ensure that our clients...

By Black Owl Systems The ever-evolving world of accounting has witnessed a plethora of changes, particularly for finance lease vs operating lease in lease accounting in lease accounting. With the...

The lease accounting standard ASC 842 and IFRS 16 requires a comprehensive and complex approach to accounting for leases that typical ERP and accounting systems are not designed to handle....

The implementation of ASC 842 and IFRS 16 has had a significant impact on the way that companies account for leases. Achieving compliance with these standards is essential for companies...

As the year end audit draws to a close, it is essential to take a critical look at your financial systems and processes. A review of your lease accounting systems...

For finance and accounting professionals adopting the lease accounting standard ASC 842, here’s an overview of the standards and some recommended implementation steps. Key Information Transition Options and Elections Management...

Lease accounting regulations are only a few years old and many companies have scrambled to find a solution to comply with these new financial reporting obligations.  Just as these companies...

Enterprise Resource Planning (ERP) software is a suite of applications that allow businesses to integrate and manage their key back office business and financial processes. ERP systems run the back...

One thing we hear from prospective clients who use Excel to perform their lease accounting is “we just have a few leases and do our calculations manually.” For some of...