What is a capital/finance lease? A finance lease, historically referred to as a capital lease under ASC 840, is a lease with the characteristics of an owned asset. Under US GAAP, a lessee records the leased asset for a finance lease as if they purchased it with funding provided by

Effective decision-making is the cornerstone of successful business management. To make informed decisions, you need accurate, timely, and relevant financial information. Structuring your accounting processes properly ensures that you not only have the data you need but also that it’s organized in a way that

LAs of March 18, 2024, the EDGAR® system was updated to support the 2024 GAAP Financial Reporting Taxonomy (2024 GRT) and other SEC taxonomies releases. The 2024 taxonomies bring a variety of changes, including element updates and modeling changes. 2024 GAAP Financial Reporting Taxonomy Updates Overview Element

We live in an increasingly global economy, so it’s important for business owners and accounting professionals to be aware of the differences between the two predominant accounting methods used around the world. International Financial Reporting Standards (IFRS) – as the name implies – is an international standard