Thanks for sharing your feedback!
In conjunction with the installation and usage of NetLease, there are key accounting decisions management should make with the assistance of the technical accounting team, including the following:
- Leasing Landscape and Key Accounting Decisions
- What accounting standard is applicable for my company (ASC 842, IFRS 16, or GASB 87)?
- When is my lease standard transition date?
- What transition method am I using?
- What practical expedients can or should I use to Adopt?
- What lease types should be used to segregate my lease portfolio?
- For each lease, what payment timing and present value calculation should I use (in advance or in arrears)
- NOTE: The lease liability present value within NetLease can be set to calculate based on both in advance payments (beginning of month) or in arrear payments (end of month) for each lease. For example, Real Estate lease payments are frequently due at the beginning of the month (in advance) while equipment leases are paid at the end of the month (in arrears)
Was this article helpful?