Lease accounting is essential for businesses in managing and reporting their lease obligations, particularly under the ASC 842 standard. In this engaging episode, Lord Gen Rilloraza, a Lease Accounting Specialist, and Gliezel David, Technical Accounting Group Director at Scrubbed, discuss the common challenges organizations face in this area and offer practical solutions to address them.

Designed for CFOs, controllers, accountants, auditors, and finance enthusiasts, this podcast dives deep into real-world applications, compliance insights, and expert perspectives to help you stay informed and prepared in today’s dynamic accounting environment.

Key Points:

• Unraveling Complex Contracts: Separating lease and non-lease components, accounting for variable payments, and addressing lease incentives.
• The Hidden Leases: Identifying and accounting for embedded leases within other contracts.
• Navigating Lease Modifications: Understanding the impact of changes in lease agreements
• Assessing Impairment: Evaluating lease asset impairments and their effect on financial reporting.