Learn lease management and accounting with our expert advice.
Learn the basics of ASC 842 and IFRS 16 compliance and how these standards impact lease accounting. Explore our full guide for detailed requirements and examples.
Brooke Colglazier
Marketing Manager
**Summary**
SOC 1 Type 2 audits evaluate the internal controls of service organizations that process financial data. For lease accounting software, these controls are especially important because the system directly impacts financial reporting through calculations like lease liabilities, amortization schedules, and journal entries.
This article explains what SOC 1 Type 2 reports are, how they differ from Type 1 reports, and why finance teams often request SOC documentation when evaluating lease accounting software vendors.
Brooke Colglazier
Marketing Manager
A modern platform that unifies lease administration and lease accounting in one system, designed to ensure compliance, improve accuracy, and automate time-consuming financial and operational workflows.
Embedded leases are contracts that contain the right to control the use of an identified asset, even when the agreement is primarily for services. Under ASC 842, embedded leases must be identified and recognized on the balance sheet, making them a common source of compliance risk. This article explains how embedded leases work, where they are commonly found, how to identify them, and why accounting and lease administration teams need a clear process to avoid audit issues.
Brooke Colglazier
Marketing Manager
Goodwill in accounting is an intangible asset recognized when a company acquires another business for more than the fair value of its identifiable net assets. It represents the premium paid for unidentifiable economic benefits such as brand strength, customer relationships, and expected synergies. Under U.S. GAAP, goodwill is recorded only in a business combination and is tested annually for impairment rather than amortized.
Brooke Colglazier
Marketing Manager
Net Operating Assets (NOA) measure the net capital a company uses to run its core business operations by isolating operating assets and operating liabilities from financing and investment activity. By removing excess cash, debt structure, and non-operating items, NOA provides a clearer view of a company’s operational scale, efficiency, and capital intensity. When tracked over time or paired with return metrics like RONA, net operating assets help analysts and finance teams evaluate whether a business is growing efficiently or simply accumulating assets without generating returns.
Brooke Colglazier
Marketing Manager
Lease accounting teams need accurate, flexible reporting to stay compliant with ASC 842. Learn what strong reporting software looks like and how to evaluate it.
Brooke Colglazier
Marketing Manager
Lessee vs. lessor explained for ASC 842 and IFRS 16. What is a tenant explained. Understand recognition, measurement, classification, and disclosure requirements, with practical examples.
Brooke Colglazier
Marketing Manager
Compare the flexibility of leading lease accounting platforms. Learn how Spacebase lets finance teams create custom lease fields for stronger compliance and reporting.
Brooke Colglazier
Marketing Manager
Understand lease amortization schedules under ASC 842. Learn how to calculate ROU assets, lease liabilities, and equipment depreciation.
Brooke Colglazier
Marketing Manager