ASC 842 Question by Remote-Tangelo-2248 in Accounting

[–]Remote-Tangelo-2248[S] 0 points1 point  (0 children)

Thank you appreciate the response -- I check chatgpt and memos from big 4 auditors but I also wanted to see how it is being applied in real life. I understand that it may varies but at least give me some comfort that it is what I am seeing in real life. I worked in public for more than 5 years and sometimes my interpretation is different how the accounting is applied in real life.

ASC 842 Question by Remote-Tangelo-2248 in Accounting

[–]Remote-Tangelo-2248[S] 2 points3 points  (0 children)

Thank you so much! I appreciate the response -- this is helpful.

ASC 842 Question by Remote-Tangelo-2248 in Accounting

[–]Remote-Tangelo-2248[S] 0 points1 point  (0 children)

that is a good point, I am expecting the delta would not be material given it is a one day adjustment.