What Qualifies as a Lease under the New Lease Standard?

April 12, 2017 at 7:07 AM / by Ane Ohm posted in New Lease Standard, IFRS, Lease Payments

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Not all arrangements qualify as a lease under the new standard. Of course, sometimes it’s easy to figure out if it’s a lease: renting your office space definitely qualifies as a lease. Copier and vehicle leases are, in fact, leases.

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Top Resource Guides for the New Lease Standard

April 1, 2017 at 6:40 AM / by Ane Ohm posted in FASB, IFRS, New Lease Standard

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The new lease standard is coming and preparation is critical for a smooth implementation. This is easier said than done and the experts agree: this new standard is complicated.

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Why Is There A New Lease Standard?

March 7, 2017 at 4:12 PM / by Ane Ohm posted in New Lease Standard, IFRS, Lease Payments, FASB

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The new U.S. lease standard, ASC 842, is required for public companies starting their fiscal year after December 15, 2018 and all other companies starting their fiscal year after December 15, 2019. Internationally, the cousin of ASC 842 is IFRS 16, which is effective for annual periods beginning on or after January 1, 2019.

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