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While the new lease standard is obviously about accounting for leases, there are broader implications that your clients should consider now, well before implementation. For example: Do they understand how operating leases will affect their balance sheet, especially the liabilities? How will they find the resources and expertise to gather and analyze their leases? What processes might they need to establish so future leases are properly accounted for?

What Can CPA Firms Do Now about the New Lease Standard?

04/02/18

While the new lease standard is obviously about accounting for leases, there are broader ...
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How Do I Know If My Lease Has Multiple Lease Components?

How Do I Know If My Lease Has Multiple Lease Components?

06/01/17

Lease accounting is applied at the lowest asset component. As a result, after you have ...
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Separating Lease and Nonlease Components

Separating Lease and Nonlease Components

05/24/17

Not all costs related to a lease are included in the leased asset and liability. For example, a ...
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What Qualifies as a Lease under the New Lease Standard?

What Qualifies as a Lease under the New Lease Standard?

04/12/17

Not all arrangements qualify as a lease under the new standard. Of course, sometimes it’s easy ...
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Top Resource Guides for the New Lease Standard

Top Resource Guides for the New Lease Standard

04/01/17

The new lease standard is coming and preparation is critical for a smooth implementation. This ...
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Why Is There A New Lease Standard?

Why Is There A New Lease Standard?

03/07/17

The new U.S. lease standard, ASC 842, is required for public companies starting their fiscal ...
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