Gain/ Loss Determination in case of Early Termination of Expense Lease as per ASC 842 — Cloud Customer Connect
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Gain/ Loss Determination in case of Early Termination of Expense Lease as per ASC 842

in Lease Accounting

Summary:

Gain/ Loss Determination in case of Early Termination of Expense Lease as per ASC 842

Content (please ensure you mask any confidential information):

An expense lease is created with term 1 Jan 2024 to 31 May 2024 with secondary ledger compliance with ASC 842 . The monthly payments in advance is 10,000 QAR with daily compounding discount rate of 5%pa. The expense lease is terminated on 31 March 2024. The gain/ loss calculation as per ASC 842 is not accurate due to the ROU amortization calculation for 31 Mar 2024.

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25C

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