Demo company
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Company profile

The settings every lease in this company is calculated with, and the books-closed lock.

Company and policies

Sample Company (demo)
SettingValue
Company nameSample Company (demo)
Fiscal year end
Year-to-date figures start the month after it.
December
Books closed through
Leases with periods in closed books can only change through a modification.
No periods closed
Major part of economic life
Classification threshold applied to every lease (ASC 842-10-55-2).
75%
Substantially all of fair value
Classification threshold applied to every lease.
90%
Decrease in scope
Policy election for partial terminations (ASC 842-10-55-177 to 55-185).
Reduce the ROU asset by the share of the right of use given up
Current portion of lease liabilities
How the balance sheet splits each liability.
Reduction in the liability over the next 12 months
Your accessDemo (view only)

Chart of accounts

Lease accountAccount in your ledger
ROU asset — operatingROU asset — operating
Lease liability — operatingLease liability — operating
Lease liability — operating, current portionLease liability — operating, current portion
Lease cost — operating (expense)Lease cost — operating
Cash (operating lease payments)Cash
ROU asset — financeROU asset — finance
Accumulated amortization — ROU assetAccumulated amortization — ROU asset
Lease liability — financeLease liability — finance
Lease liability — finance, current portionLease liability — finance, current portion
Interest expense — finance leasesInterest expense — finance lease
Amortization expense — ROU assetAmortization expense — ROU asset
Cash (finance lease payments)Cash

Closed periods

Nothing closed

Currently: nothing closed.