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In February of 2016, the Financial Accounting Standards Board proposed a new lease accounting standard known as ASC 842. After delays for non-public...

What is Considered a Lease Under ASC 842?

Not all arrangements qualify as a lease under the new standard’s definition of a lease. Of course,...

Not all costs related to a lease are included in the leased asset and liability. For example, a contract may include both a truck and operation of...

The new U.S. lease standard, ASC 842, is required for public companies starting their fiscal year after Dec. 15, 2018, for public non-profits...