You know you are using the proper file editor when such a basic task as Classify lease does not take more time than it should. Modifying documents is now an integral part of many working operations in different professional fields, which is why accessibility and simplicity are crucial for editing instruments. If you find yourself studying manuals or trying to find tips on how to Classify lease, you may want to get a more easy-to-use solution to save your time on theoretical learning. And this is where DocHub shines. No training is required. Simply open the editor, which will guide you through its principal functions and features.
A workflow becomes smoother with DocHub. Use this tool to complete the files you need in short time and get your productivity to a higher level!
This video discusses the five tests used to determine if a lease should be classified as an operating lease or a finance lease. The new standard requires all leases over one year to be capitalized, recognizing an asset and liability on the balance sheet. The classification of the lease impacts the income statement and how expenses are recognized. This video focuses on how to classify leases rather than the accounting specifics.