United States

Lease accounting resource center


RSM’s Lease Accounting Resource Center provides insights about Topic 842, “Leases,” of the Financial Accounting Standards Board’s Accounting Standards Codification (ASC). The resource center includes access to high-level and detailed information about adoption and implementation of the standard, including the following RSM resources, among many others:

While the effective date of ASC 842 for most public business entities and certain not-for-profit entities and employee benefit plans (with limited exceptions) already has passed, other entities have until their fiscal year beginning after December 15, 2020 (and interim periods thereafter). As such, for these other entities that have a calendar year end, ASC 842 is effective in their fiscal years ending December 31, 2021. While this may seem like it is well off into the future, there should be no delay in the implementation of ASC 842 given the complexities involved. Chapter 10 of our lessee guide provides additional information and examples about the effective date and lessee transition guidance in ASC 842. 


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