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Applying ASC 842 and IFRS 16 – Frequently Asked Questions

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There’s a great deal of uncertainty surrounding the impact of ASC 842 and IFRS 16 and questions about how to interpret and apply the new standards. Nakisa’s technical accountants work closely with our customers to address the complexities they are facing. The goal of this document is to provide accountants and other financial professionals with additional perspective on the FASB/IASB’s rule changes regarding accounting for leases.

Download this guide to learn more about:

  • Lease Accounting for Non-Calendar Fiscal Periods
  • Differences in Calculating Restoration Cost (IFRS 16 vs ASC 842)
  • How to Identify Embedded Leases
  • Accounting Treatment for Evergreen Leases
  • How to Handle a Decrease in Lease Term
  • Using Excel for Lease Accounting

About the Authors: Nakisa’s Center of Excellence

The contents in this document were contributed by Nakisa’s Center of Excellence Team. This team is comprised of a group of technical accountants with expertise in IFRS and US GAAP. They develop best practices to enable organizations to plan, transition, and comply with financial regulations. Nakisa’s Center of Excellence has played an instrumental role in the development of Nakisa Lease Administration by advising and ensuring compliance with IFRS 16 and ASC 842.

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