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There’s Still Time to Improve Your Lease Accounting

There’s Still Time to Improve Your Lease Accounting

by LeaseQuery | Nov 19, 2023 | Articles, Lease Accounting

Summary provided by MaterialAccounting.com: This article discusses how to reassess current lease accounting policies as audit season approaches.    For many organizations, audit season is approaching. This means this is a great time to reassess your current...
Prepaid Expenses Guide: Accounting, Examples, Journal Entries, and More Explained

Prepaid Expenses Guide: Accounting, Examples, Journal Entries, and More Explained

by LeaseQuery | Aug 9, 2023 | Articles, Expense Accounting

Summary provided by MaterialAccounting.com: This blog discusses the definition of prepaid expenses, how to account for them, and provides examples.  — Accounting for prepaid expenditures and ensuring they are properly recognized on your financial statements is a...
Fixed Assets in Accounting and the Asset Turnover Ratio Explained with Examples and More

Fixed Assets in Accounting and the Asset Turnover Ratio Explained with Examples and More

by LeaseQuery | Jul 20, 2023 | Articles, ASC 360, Fixed Asset Accounting, PP&E (Property, Plant, & Equipment)

Summary provided by MaterialAccounting.com: This article breaks down fixed asset accounting and the asset turnover ratio in an easy-to-understand format with examples.  — Fixed assets are one of the main pillars of business. Many organizations would not exist or...
ASC 840 vs ASC 842: Differences between the Old and New Lease Accounting Standards

ASC 840 vs ASC 842: Differences between the Old and New Lease Accounting Standards

by LeaseQuery | Jun 29, 2023 | Articles, ASC 840, ASC 842, Lease Accounting

Summary provided by MaterialAccounting.com: This article compares and contrasts the new and old FASB lease accounting standards, ASC 842 and ASC 840.  ASC 840 summary ASC 840, Leases, is the former lease accounting standard for public and private companies following...
What Nonprofits Need to Know About ASC 842

What Nonprofits Need to Know About ASC 842

by LeaseQuery | Jun 5, 2023 | Articles, ASC 842, Lease Accounting

Summary provided by MaterialAccounting: Nonprofits transitioning to ASC 842 can read this article from LeaseQuery to get the tricks and tips they need for implementation.  ASC 842 at a glance ASC 842 is the new FASB lease accounting standard. It governs how entities...
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Material Accounting

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