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Help Your Clients Make the Right Policy Elections with the Upcoming Lease Accounting Standard

Now is the time to help your clients make the best lease accounting policy decisions. The next few months of implementation planning are critical--your clients’ decisions will impact both transition and day one accounting. Use this guide to help clients make the right policy elections for them, including:

    • Whether to apply the standard to short-term leases
    • Accounting for lease and nonlease components as a single lease component
    • Using the risk free rate instead of an incremental borrowing rate
    • Defining major part and substantially all by asset class
    • Financial statement presentation elections for lease assets and liabilities
    • Practical expedients that apply to leases that commenced before the standard’s effective date


CPA Firms: Help your clients