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Leases: News and publications

A comprehensive collection of news and publications related to ASC 840 and ASC 842, Leases, sorted in reverse chronological order.

Deloitte comments on FASB's proposal to address lessor implementation issues

Jan 15, 2019

Deloitte & Touche LLP has commented on the FASB's proposed ASU "Codification Improvements for Lessors."

Journal entry — FASB issues proposed ASU on two Codification improvements to new leasing standard

Dec 21, 2018

On December 19, 2018, the FASB issued a proposed ASU, which would provide Codification improvements to ASC 8422 related to the following two issues: (1) determining the fair value of the underlying asset by lessors that are not manufacturers or dealers; and (2) statement of cash flows presentation for sales-type and direct financing leases by lessors within the scope of ASC 942.

FASB proposes ASU to address lessor implementation issues

Dec 19, 2018

The FASB has issued a proposed Accounting Standards Update (ASU), “Codification Improvements for Lessors.”

Banking & Capital Markets — Accounting and Financial Reporting Update (2018)

Dec 19, 2018

The 2018 edition of our annual update highlights selected accounting and reporting developments that may be of interest to entities in the banking and capital markets sector.

Heads Up — FASB decks lessors’ halls with “lesser” requirements

Dec 14, 2018

This issue discusses the FASB’s recently issued ASU No. 2018-20, "Narrow-Scope Improvements for Lessors," which is being released in response to certain concerns lessors have raised regarding the implementation of the Board’s new leasing standard, ASU 2016-02. Specific aspects of the lessor guidance in ASU 2016-02 that are being amended by ASU 2018-20 include (1) sales taxes and other similar guidance collected from lessees, (2) lessor costs paid directly by a lessee, and (3) recognition of variable payments for contracts with lease and nonlease components.

Investment Management — Accounting and Financial Reporting Update (2018)

Dec 11, 2018

The 2018 edition of our annual update highlights selected accounting and reporting developments that may be of interest to investment management entities. Among other topics, the publication discusses (1) continued work by the various standard setters on issues related to implementation of the new leasing standard and (2) changes to the fair value measurement disclosure requirements in ASC 820.

FASB issues narrow-scope improvements to lessor accounting

Dec 11, 2018

The FASB has issued Accounting Standards Update (ASU) No. 2018-20, “Narrow-Scope Improvements for Lessors.”

Journal entry — FASB votes to issue proposed ASU on two Codification improvements to new leasing standard

Dec 07, 2018

At its December 4, 2018, meeting, the FASB added a project to its technical agenda on Codification improvements to ASC 842 for the following two issues: (1) fair value of the underlying asset by lessors that are not manufacturers or dealers; and (2) statement of cash flows presentation for sales-type and direct financing leases.

FASB discusses Codification improvements for lessors

Dec 06, 2018

At its December 4, 2018, meeting, the FASB decided to add a project to its technical agenda on Codification improvements for lessors.

Journal entry — CAQ SEC Regulations Committee releases highlights of September 12, 2018, joint meeting with the SEC staff

Dec 04, 2018

On November 30, 2018, the Center for Audit Quality (CAQ) posted to its Web site the highlights of the September 12, 2018, CAQ SEC Regulations Committee joint meeting with the SEC staff.

FEI publishes guides on ICFR considerations related to leasing and CECL standards

Nov 19, 2018

Financial Executives International (FEI) has published guides on ICFR considerations related to the FASB’s leasing and current expected credit loss (CECL) standards.

FASB discusses lessor accounting

Nov 01, 2018

At its October 31, 2018, meeting, the FASB discussed its project on narrow-scope improvements to lessor accounting.

Journal entry — FASB concludes deliberations on proposed accounting standards update on narrow-scope improvements for lessors

Nov 01, 2018

At its meeting on October 31, 2018, the FASB concluded deliberations on its proposed Accounting Standards Update (ASU) related to the narrow-scope improvements for lessors under ASC 842.

Heads Up — At "lease" there are answers to transition questions

Oct 17, 2018

This Heads Up addresses certain transition issues associated with the adoption of the guidance in FASB Accounting Standards Codification Topic 842, Leases. Topics discussed in this publication include the interim reporting requirements associated with early adoption (including adoption in the fourth quarter of 2018); the determination of the lease obligation for existing operating leases; and the nuances of historical build-to-suit accounting, including the implications of historical impairments.

A Roadmap to Accounting for Noncontrolling Interests (2018)

Oct 01, 2018

This Roadmap provides Deloitte’s insights into and interpretations of the guidance on noncontrolling interests, primarily that in ASC 810-10 and ASC 480-10-S99.

Deloitte comments on FASB's proposed narrow-scope amendments to lessor accounting guidance

Sep 13, 2018

Deloitte & Touche LLP comments on the FASB's proposed ASU "Leases (Topic 842): Narrow-Scope Improvements for Lessors."

Navigating the impact of the new leases standards — A Deloitte Global IFRS 16 and ASC 842 readiness survey

Sep 07, 2018

As Deloitte accompanies organizations in their new leases standards implementation projects, we identified a need for organizations to share their many challenges and to understand those faced by others in their jurisdictions, regions and industries around the world. In response, Deloitte launched the Global IFRS 16 and ASC 842 readiness survey, which highlights the challenges and complexities facing organizations when implementing IFRS 16 and ASC 842 across the world. The survey found that, with a few regional exceptions, many of the challenges and issues identified are similar across all organization sizes and industries.

Journal entry — FASB issues proposed ASU on additional narrow-scope improvements to the lessor accounting model in ASC 842

Aug 16, 2018

On August 13, 2018, the FASB issued proposed ASU,"Leases (Topic 842): Narrow-Scope Improvements for Lessors," which would provide lessors with additional narrow-scope improvements under ASC 842 related to: (1) sales taxes and other similar taxes collected from lessees, (2) certain lessor costs paid directly by lessees, and (3) recognition of variable payments for contracts with lease and nonlease components.

FASB proposes narrow-scope amendments to lessor accounting guidance

Aug 13, 2018

The FASB has issued a proposed Accounting Standards Update (ASU), “Narrow-Scope Improvements for Lessors.”

Heads Up — FASB re-leases targeted improvements to ASC 842

Aug 07, 2018

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2018-11, "Targeted Improvements to ASC 842, Leases," which provides entities with relief from the costs of implementing certain aspects of the new leasing standard, ASC 842. Specifically, under the amendments in ASU 2018-11, (1) entities may elect not to recast the comparative periods presented when transitioning to ASC 842 and (2) lessors may elect not to separate lease and nonlease components when certain conditions are met.

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