Accounting On Purpose
Right of Use Assets
The topic of Right of Use Assets has come up in several NFP Board and Finance Committee discussions. It causes a bit of confusion, especially when organisations, for example, are used to recognising their rent or lease payments as an expense.
In this video I’m not going into the accounting rules, this will be more conceptual, so you can have an appreciation of what Right of Use Assets means when you see it and the meaning it's attempting to convey.
It is one of the harder accounting concepts to wrap your head around, even for accountants, so you might need to watch the video a few times.
Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.
If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.
Right Source Empowering Your Purpose Is Ours.
The topic of Right of Use Assets has come up in several NFP Board and Finance Committee discussions. It causes a bit of confusion, especially when organisations, for example, are used to recognising their rent or lease payments as an expense.
In this video I’m not going into the accounting rules, this will be more conceptual, so you can have an appreciation of what Right of Use Assets means when you see it and the meaning it's attempting to convey.
It is one of the harder accounting concepts to wrap your head around, even for accountants, so you might need to watch the video a few times.
Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.
If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.
Right Source Empowering Your Purpose Is Ours.