When compiling your lease inventory, it’s critical to break the project up into smaller steps to make the process easier and more manageable. Over the last few months, our accounting experts have walked you through the first two steps for transitioning to ASC 842. Now, join LeaseQuery for part 3 of our lease entry webinar series as we present how to extract payment information from your lease documents to accurately calculate your initial lease liability and ROU asset. (Miss parts 1 and/or 2? Check them out: How to Assemble Your Lease Portfolio; Lease Abstraction: Key Dates and Your Lease Term.) 

During part 3 of our series, you will learn how to categorize lease, non-lease, and non-components of a lease agreement. We’ll discuss the various types of payments that may be present in a lease agreement, and you’ll learn which payments should be included in the initial lease liability measurement.

Learning Objectives: 

• Differentiate between lease, non-lease, and non-components and provide examples of each 


• List the various types of payments present in a lease agreement and determine which are included in the lease liability


• Calculate the initial lease liability from the payment information in a sample contract

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