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Lease Accounting Resource Center
Insights to help you navigate the ASC 842 reporting requirements
On February 25, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), its long-awaited final standard on the accounting for leases. This brings a revolutionary change in lease accounting that will affect entities across all industries.
The new standard requires lessees to recognize most leases on their balance sheet. It will also significantly affect the accounting for certain leases and may result in key impacts on an entity’s finances and operations which may mean that companies will need to implement new application solutions to manage these requirements.
We invite you to explore the following information about the new lease standard and adoption and implementation considerations. Our consulting team is committed to bringing you comprehensive customized solutions, delivering compliance with the new standard while also enhancing financial controls and optimizing the lease-to-pay process. Subscribe to our lease accounting insights email and receive new information directly to your inbox.
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Additional lease accounting resources
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GASB guidance for transition from Interbank Offered Rates
The GASB's guidance addressing financial reporting implications of the replacement of interbank offered rates.
GASB proposes implementation guidance
The GASB recently released a proposed implementation guide to address a wide array of practice issues related to GASB Statements.
Taking your company's financial profile to a new level
Our technical accounting consulting team help tackle your complex accounting needs with dedicated industry professionals.
Proposed updates to ASC 842
The FASB recently proposed amendments to address certain issues arising from the adoption of the leases standard.
FASB receives feedback about potential simplifications to ASC 842
Constituents recently provided feedback to the FASB regarding issues encountered in the implementation of ASC 842.
Updates to overview of lessor accounting for financial institutions
We have updated our white paper, which provides an overview of lessor accounting under ASC 842 for financial institutions.
LeaseQuery and RSM Announce Reseller Partnership
Customers can now purchase LeaseQuery directly from RSM, gaining the benefit of a single-vendor community across solutions.
Considerations for Day 2 compliance with ASC 842
Businesses can improve operations and reduce costs after adopting the ASC 842, despite the time and effort required to maintain compliance.
GASB issues guidance for subscription-based IT arrangements
The GASB recently issued guidance on the accounting for subscription-based information technology arrangements.
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