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.
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Visit the downloads page to access accounting spreadsheets, templates and budgets.
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