ASC 842 is a new lease accounting standard issued by the Financial Accounting Standards Board (FASB) that became effective for public companies on December 15, 2018, and for private companies on December 15, 2019. This standard replaced the previous lease accounting standard, ASC 840. Under ASC 842, all leases with a term of more than […]

GASB 87 and 96 are new accounting standards issued by the Governmental Accounting Standards Board (GASB) for state and local governments in the United States. GASB 87, which became effective for reporting periods beginning after December 15, 2019, establishes accounting and financial reporting requirements for leases by state and local governments. Similar to ASC 842

The new lease accounting standards (ASC 842, IFRS 16, GASB 87) are not just a one-and-done disclosure. They usher in a new approach to accounting that includes an ongoing, cross-departmental effort – and, a much higher level of scrutiny. Lease accounting is interdependent on lease administration. The new standard(s) require collecting leases from across your

Properly executed, equipment leasing is the most cost-effective approach to financing capital expenditures. However, misleading term sheets, one-sided rental agreements, and time-consuming liability management can exasperate the lessee and undermine financial objectives. At Blue Sky Capital, we help you overcome those challenges to establish equipment finance as an essential part of your funding strategy. 5