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Liability

Accounting methods: A guide

Accounting is a key element of financial reporting and plays a decisive role in the financial reporting of companies. It makes it possible to present the assets, financial position and earnings of a company at a specific point in time. The choice of accounting method has far-reaching effects on the presentation of a company's financial situation and can therefore also influence the decisions of investors, creditors and other stakeholders. In practice, there are various [...]

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Lease accounting: new rules and effects

Lease accounting is a key aspect of accounting that is of great importance to companies. It refers to the way in which leases are recognised and reported in a company's financial statements. Leasing is a widely used form of financing that allows companies to utilise assets without acquiring them directly. This can be particularly beneficial for companies that want to preserve their liquidity while gaining access to modern technologies.

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What is GASB 87 Leasing?

The new GASB 87 lease accounting standard is a significant change in accounting for government agencies and government organisations. The Governmental Accounting Standards Board (GASB) developed this standard to improve the recognition and presentation of leases in the financial statements of governmental entities. GASB 87 became effective on 15 December 2019 and has a significant impact on the accounting and financial reporting of government entities. The new standard replaces GASB 13 and introduces significant

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IFRS 16 example: How the new lease accounting changes financial reporting

The International Financial Reporting Standards (IFRS) are internationally recognised accounting standards that are applied by companies all over the world. One of the latest standards is IFRS 16, which relates to lease accounting. This standard was developed to improve the transparency and comparability of financial information and to give investors a better basis for their decisions. In this article, we will take a closer look at IFRS 16 and

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