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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. 

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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

Leases: Overview of ASC 842

An overview of ASC 842, including the requirement for lessees to recognize assets and liabilities for all but short-term leases.

  • December 19, 2020

Financial institutions: Overview of lessor accounting under ASC 842

An overview of the lessor guidance in ASC 842 that most affects financial institutions that provide lease financing to their customers.

  • January 24, 2020

RSM and LeaseQuery Take Lease Accounting Technology to New Heights

LeaseQuery and RSM will work with commercial and government organizations to facilitate lease accounting compliance.

  • January 16, 2020
Learning from early adopters: Tax implications of ASC 842

Learning from early adopters: Tax implications of ASC 842

Compliance with ASC 842 includes evaluation of the tax implications that may affect businesses during the implementation.

  • January 14, 2020

A guide to lessee accounting under ASC 842

Comprehensive discussion and examples on all facets of lessee accounting, including recognizing ROU assets and liabilities for most leases.

  • December 19, 2019

Year-end tax and accounting update for the real estate industry

An update on the tax and accounting developments, macroeconomic outlook, trends and policies affecting the real estate industry.

  • December 17, 2019
The Libor countdown—are you ready?

The Libor countdown—are you ready?

Concerns have been raised that replacing Libor with an alternative reference rate may trigger a number of challenges.

  • December 13, 2019
Consumer products retailer implements ASC 842 with RSM collaboration

Consumer products retailer implements ASC 842 with RSM collaboration

When an existing client of RSM's technology consulting group faced implementing ASC 842, RSM was well-positioned to offer assistance.

  • December 04, 2019
Leasing standard deferment should not stall implementation

Leasing standard deferment should not stall implementation

Despite deferment of the new leasing standard, organizations should keep moving along with their lease implementation activities.

  • December 03, 2019
RSM helps global commercial kitchen retailer adopt ASC 842

RSM helps global commercial kitchen retailer adopt ASC 842

Identifying the service arrangement population and review of identified service arrangements were key in this ASC 842 compliance process.

  • November 15, 2019