Lease Accounting Services

Lease Accounting Resource Center

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The new lease accounting standard, ASC Topic 842, Leases requires companies to recognize most lease assets and liabilities on their balance sheet, which could affect everything from internal controls to debt covenants. Financial leaders who understand the lease accounting model and the step-by-step approach to implementing the new standard can help their organization manage its requirements and communicate the ASC 842 impact on their organization’s financial statement. Explore our resources below for more insight into lease accounting.

Articles

A deep dive into the lease discount rate determination process to guide private companies in their adoption process.

After previous delays by the Financial Accounting Standards Board (FASB), Accounting Standards Update 2016-02, Leases (Topic 842) must be adopted by private entities with fiscal year ends beginning after Dec. 15, 2021.
Inventorying leases is an important first step in ASC 842 adoption.

In response to the sudden influx of concessions, the FASB recently issued a staff Q&A about how organizations can account for the effects of the COVID-19 pandemic on their leases.

Private companies and not-for-profit organizations are expected to have an additional year to adopt the changes to lease accounting in ASC Topic 842, Leases.

Determining the ownership of assets for leasehold improvements is vital for any company leasing space because it directly impacts leasehold accounting. 

Just like your car, your lease portfolio and the checks-and-balances for the accounting standard require tune-ups and check-ins. Here’s a run-down of some things to consider.

A quick overview of what to expect so your company can be better prepared for its new reporting obligations under the new lease accounting standard, ASC 842. 

The FASB ruled that lease accounting’s effective date will not be adjusted again.

The Financial Accounting Standards Board (FASB) recently issued new guidance that makes several important changes to the accounting treatment for troubled debt restructurings (TDRs). 

Melissa Henry

Director

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