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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
Private company leaders can learn from the new lease standard implementation challenges public company leaders have already experienced.
As private organizations implement ASC 842, understanding how this implementation can improve efficiency is critical.
ASC 842 compliance is challenging, and the effective date is quickly approaching for private companies. RSM can help smooth your adoption.
It is critical that health care organizations have a comprehensive approach in implementing the new lease accounting requirements.
The right solution and ongoing management can provide an accurate and complete representation of your lease activity.
What three lessons can private companies take away from public companies that have already implemented ASC 842?
Accounting errors resulting from improper application of ASC 840 cannot be carried forward into the transition to ASC 842.
Get the latest information on GASB standards that could affect your organization, including a detailed focus on the new OPEB standards.
The road to compliance with FASB ASC 842 can be fraught with challenges, but some best practices can help allow for a smoother transition.
A white paper to assist a lessee in identifying and understanding the applicable transition guidance in ASC 842.
See more Lease Accounting Insights »