FASB Amends the New Lease Standard

August 15, 2018 at 11:19 AM / by LeaseCrunch® posted in New Lease Standard, FASB, LeaseCrunch®, CPA Firms

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LC_Blog_AUG-04

On July 30, 2018, the FASB issued a greatly anticipated ASU related to the new lease standard. ASU 2018-11, Leases (Topic 842), Targeted Improvements, has two provisions that are intended to make transition to the new lease standard easier and less costly. One is an additional transition method, providing transition relief that will be of great interest to lessees and lessors. The other provides a new practical expedient for lessors in their identification and separation of lease components.  

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