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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

FASB expands ASC 606 deferral and approves limited deferral of ASC 842

On May 20, 2020, the FASB approved one-year effective date deferrals for certain entities for ASC 606 and ASC 842.

  • May 20, 2020
Here's why organizations should continue to implement GASB 87

Here's why organizations should continue to implement GASB 87

Do not delay your GASB 87 lease implementation efforts because of the postponement of the GASB 87 effective date.

  • May 13, 2020

Annual update: State and local government accounting

Get the latest information on GASB standards that could affect your organization, including a detailed focus on the new OPEB standards.

  • May 11, 2020

U.S. GAAP and IFRS comparisons: Leases and interim reporting

We recently updated our U.S. GAAP vs. International Financial Reporting Standards comparisons on leases and interim reporting.

  • April 24, 2020

Proposed deferral for certain entities: ASC 606 and ASC 842

Due to the coronavirus, the FASB recently proposed a one-year effective date delay for certain entities for ASC 606 and ASC 842.

  • April 23, 2020
3 steps to adopting and implementing GASB 87 lease accounting rules

3 steps to adopting and implementing GASB 87 lease accounting rules

GASB 87 requirements can challenge government entities. Here are three steps to adopting and implementing the new leasing standard.

  • April 22, 2020

Coronavirus: FASB staff provides guidance on various issues

The FASB staff recently discussed answers to certain questions on financial-reporting topics related to the coronavirus pandemic.

  • April 14, 2020

FASB to provide limited deferrals for ASC 606 and ASC 842

FASB to propose deferring the effective dates of ASC 606 for private franchisors and ASC 842 for certain entities.

  • April 08, 2020
RSM helps a multinational manufacturing company implement ASC 842

RSM helps a multinational manufacturing company implement ASC 842

A multinational consumer products client sought to implement ASC 842 with LeaseAccelerator as their selected lease technology solution.

  • March 24, 2020
Going public on an accelerated timeline with a conglomerate

Going public on an accelerated timeline with a conglomerate

How RSM conquered a time crunch in helping a large conglomerate prepare for an initial filing and life as a public company.

  • March 24, 2020