Lease modifications greatly impact accounting practices and audit readiness. A lease modification is a change to the terms and conditions of an existing lease contract that results in a change in the scope or consideration.
When a lease modification occurs, it triggers a remeasurement of the lease liability and right-of-use asset, which can have significant implications for financial reporting and compliance. This video covers the key principles and guidelines for identifying, accounting for, and properly disclosing lease modifications.
You'll learn:
🔑 What qualifies as a lease modification under accounting standards
🔑 The different types of lease modifications (scope changes, term changes, etc.)
🔑 Guidance on remeasuring lease liabilities and assets
🔑 How to account for lease modifications in financial statements
🔑 Best practices for maintaining audit readiness and compliance
Lease Accounting Resources: www.occupier.c...
Lease Accounting by Occupier: www.occupier.c....
ABOUT OCCUPIER
Occupier is a single-source-of-truth platform that enables collaboration across the entire deal life cycle - from transaction management to lease administration and lease accounting. The Occupier Team combines their deep experience in the commercial real estate (JLL) and proptech industries (VTS, ProCore, WeWork), and applies it to the world of the occupier.
Learn more about Occupier: www.occupier.com/
Негізгі бет Lease Modifications | Accounting Audit Readiness
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