Spotlight on lease accounting: Act now on new FASB standards

Spotlight on lease accounting: Act now on new FASB standards


December 2016

On February 25, 2016, the Financial Accounting Standards Board (FASB) released Topic 842, which defines the new standard that requires that all leases be recorded on the balance sheet as a “right-of-use” asset and lease liability. This new standard is effective for the first accounting period after December 15, 2018. This will apply to publicly traded corporations, not-for-profit entities that have issued a conduit bond, or a company with an employee benefits plan that files financial statements with the United States Securities and Exchange Commission (SEC).

Keywords: LEADER, lease accounting, FASB, SEC, topic 842

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