Leasing eBook: Transitioning to ASC 842: Why Robust Analytical Reporting Tools will be a must for all Entities
In today’s finance domain everyone belives that Analytical Reports are must. And we support it, hence we’ve got the new eBook for you all titled “Transitioning to ASC 842: Why Robust Analytical Reporting Tools will be a must for all Entities”For every identified lease, companies will be required to create a lease liability calculated as the present value of the future fixed payments and a corresponding asset (“right of use” asset). The right of use asset will be amortized over the life of the lease.
The income statement will be impacted by a straight-line lease expense item that would essentially contain an interest component with amortization of the asset being the plug-in order to achieve straight line lease expense over the life of the lease.
Entities will need a robust reporting tool as they transition to ASC 842 for a number of important reasons including the following:
New accounting concepts
Also get answers to your questions like; What do entities need to conclude that their data is accurate? How reporting tools can help in the validation process? Read the eBook or Download the PDF As a co-innovation partner with SAP and a pioneer in delivering purpose-built compliance solutions, Bramasol has worked closely on the development and deployment of lease accounting compliance capabilities. Let us know if you’ve any compliance questions as we’re there answer them. Fill this Form and our Lease Administration Team will get it settled.
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