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Ben, a CPA at LeaseQuery, introduces the present value tool for transitioning lease portfolios to new standards (ASC 842, IFRS16, GASB 87). The tool promotes transparency and comparability by accounting for operating leases more intricately than before. Previously, leases were simply recorded as cash payments and corresponding expenses. Ben explains the importance of the tool and demonstrates how to access and utilize it on the LeaseQuery website.
