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2020-10-01
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2020-06-27
Good editing capabilities (particularly…
Good editing capabilities (particularly with additional features like signing).Customer support were very prompt with their response and actions.
2020-06-14
Revise Table in Equipment Lease Feature
The Revise Table is an essential tool within the Equipment Lease feature that allows you to easily manage and modify lease agreements. This tool ensures that your equipment lease data remains accurate and up-to-date.
Key Features
User-friendly interface for quick edits
Instant updates to lease terms and conditions
Secure storage of all lease information
Comprehensive tracking of all revisions
Supports multiple lease structures
Potential Use Cases and Benefits
Helps businesses streamline lease management processes
Enables quick responses to changes in equipment needs
Facilitates informed decision-making with accurate data
Reduces errors in lease documentation
Enhances collaboration between departments
The Revise Table resolves common challenges in equipment leasing. By providing a straightforward way to edit lease agreements, it minimizes the risk of inaccuracies and ensures that all stakeholders have access to the latest information. Trust in this tool to keep your leasing process efficient and reliable.
For pdfFiller’s FAQs
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Who is allowed to reassess lease amounts for variable lease payments?
In remeasuring the lease liability, the lessee should remeasure other variable lease payments that are based on an index or a rate by using the index or rate on the remeasurement date.
What is a lease remeasurement?
A change in the lease term or the assessment of whether the lessee will exercise an option to purchase the underlying asset and the discount rate for the lease already reflects that the lessee has an option to extend or terminate the lease or to purchase the underlying asset.
What is the difference between a lease reassessment and a lease modification?
A lease modification can be easily identified; it requires a substantive change that was not included in the original terms and conditions of the lease, while a lease reassessment can occur when assumptions and other events outside the lease have changed, which can be difficult at times to identify.
What is lease reassessment?
Lease reassessments: Change in amounts probable under a residual value guarantee. In some cases, lease agreements include a residual value guarantee that requires the underlying asset to be returned at a fair value at or above the guarantee.
How do you account for an equipment lease?
The equipment account in the balance sheet is debited by the present value of the minimum lease payments, and the lease liability account is the difference between the value of the equipment and cash paid at the beginning of the year.
Who is allowed to reassess lease amounts for variable lease payments?
(b) A lessee would reassess variable lease payments that depend on an index or a rate only when it is reassessing the lease liability for other reasons (for example, when there is a change to the lease term upon the occurrence of a significant event or a significant change in circumstances within the control of the
When to reassess lease term?
Upon the occurrence of such an event or change in circumstances that is within the control of the lessee, a lessee must reassess the lease term or its conclusion about whether exercise of a purchase option is reasonably certain.
How to account for lease modification?
Account for the lease modification as a termination of the original lease and creation of a new lease from the effective date of the modification. Measure the carrying amount of the underlying asset as the net investment in the original lease immediately before the effective date of the modification.
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