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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
An overview of ASC 842, including the requirement for lessees to recognize assets and liabilities for all but short-term leases.
LeaseQuery and RSM will work with commercial and government organizations to facilitate lease accounting compliance.
Compliance with ASC 842 includes evaluation of the tax implications that may affect businesses during the implementation.
Comprehensive discussion and examples on all facets of lessee accounting, including recognizing ROU assets and liabilities for most leases.
An update on the tax and accounting developments, macroeconomic outlook, trends and policies affecting the real estate industry.
Concerns have been raised that replacing Libor with an alternative reference rate may trigger a number of challenges.
When an existing client of RSM's technology consulting group faced implementing ASC 842, RSM was well-positioned to offer assistance.
Despite deferment of the new leasing standard, organizations should keep moving along with their lease implementation activities.
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.
See more Lease Accounting Insights »