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FAQs about the new FASB leases standard: You're not alone

Published on: May 08, 2017

It's been more than a year since the Financial Accounting Standards Board (FASB) issued its new standard on accounting for leases, and the transition to the new standard has been a hot topic. What frequently asked questions continue to be a challenge for many companies?

We discuss:

  • Right of use (ROU) asset impairment, including the mechanics of the impairment test and transition considerations.
  • Accounting for sales-type leases with significant variable payments.
  • Effects of sublease renewal options on head lease accounting.

Hear perspectives on these and other frequently asked questions about the new leases standard based on discussions held with the FASB, other accounting firms, and the preparer community.

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