Explore latest insights, tips, and trends on accounting compliance (IFRS, ASC, Local GAAP, GASB, AASB) from Nakisa
This post covers calculating the depreciation expense and lease liability amortization schedule under GASB 87 lease accounting. It also discusses how lease modifications require remeasuring lease liabilities, payments, and assets—a process that specialized lease accounting software can automate.
The post walks through an example scenario to illustrate the first three steps for GASB 87 lease accounting calculations: the initial lease liability, the right-of-use asset value, and the interest expense for each period under the new lease accounting rules for government entities.
This blog covers the complexities involved in properly identifying and calculating the different types of lease payments included in the lease liability under the IFRS 16 and ASC 842. It discusses how a specialized lease accounting solution can streamline these calculations and modifications while maintaining
The post outlines 4 key reasons why using Microsoft Excel is not a viable long-term solution for lease accounting and compliance with IFRS 16/ASC 842 and recommends using specialized lease accounting software instead of Excel spreadsheets.
This blog explores the challenges government entities face in achieving GASB 87 compliance and highlights how specialized lease accounting software can streamline the process through automated calculations, centralized data management, robust reporting, and seamless integration capabilities.
Explore how Nakisa Lease Administration software addresses the gaps identified in a PwC study concerning missing functionalities in many lease accounting solutions. These include robust auditing, reporting, workflow management, ERP integration capabilities, and support for multiple accounting standards.
The blog outlines five key differences between real estate and equipment leases: dollar values, data decentralization, rent calculations, administration processes, and accounting nuances. It emphasizes the need for a comprehensive solution that seamlessly handles the complexities of both lease types.
Explore three crucial considerations for companies in the chemicals industry when implementing the IFRS 16 and ASC 842 lease accounting standards, and learn how technology solutions can streamline accounting strategies and compliance efforts under these guidelines.
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