Oil & Gas: Impairment of Leased Asset Considerations Under US GAAP
Learn more about the implications of ASC 842 lease accounting rules on impairment testing for oil and gas companies across upstream, midstream, and downstream operations.
Accounting Compliance
Explore latest insights, tips, and trends on accounting compliance (IFRS, ASC, Local GAAP, GASB, AASB) from Nakisa
GASB 87 Calculation and Accounting Example – Part 2
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.
GASB 87 Calculation and Accounting – Part 1
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.
Identifying lease payments in IFRS 16 and ASC 842 lease accounting standards
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
4 Reasons Why Excel Isn’t a Long-Term Lease Accounting Solution
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.
GASB 87 Lease Accounting Standard: What Is New, What Are Exceptions, How Software Can Help
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.
Nakisa Lease Administration – The missing link in lease accounting software
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.
What’s the Difference Between Real Estate and Equipment Leases?
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.
Three Considersations for Lease Accounting in the Chemicals Industry
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.
