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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.
Additional lease accounting resources
Identifying the service arrangement population and review of identified service arrangements were key in this ASC 842 compliance process.
Guidance allows transparency for investors and financial statement users to assess the timing, amount, and cash flow from leases.
Syneos Health, a public company, shares its ASC 842 implementation journey and how RSM assisted with acting as an extension of their team.
RSM partners with Visual Lease to provide clients with a solution to efficiently comply with new accounting standards.
By offering additional technical knowledge of lease accounting, RSM worked with Syneos Health on its ASC 842 implementation.
Many contractors are not adequately preparing for yet another accounting change coming their way, known as ASC 842.
The proposed FASB ASC 842 deferral for private companies shouldn’t prevent your organization from starting the implementation now.
An overview of ASC 842, including the requirement for lessees to recognize assets and liabilities for all but short-term leases.
Comprehensive discussion and examples on all facets of lessee accounting, including recognizing ROU assets and liabilities for most leases.
Restaurant learns it’s important to understand the quantity of leases and complexity before embarking on an ASC842 implementation strategy.
See more Lease Accounting Insights »