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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.

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.

FASB makes targeted improvements to lease accounting guidance

Jul 31, 2018

The FASB has issued Accounting Standards Update (ASU) No. 2018-11, “Leases (Topic 842): Targeted Improvements.”

Journal entry — FASB votes to expose additional narrow-scope improvements to the lessor accounting model for public comment

Jul 27, 2018

At its meeting on July 25, 2018, the FASB discussed potential disclosure requirements related to tentative decisions reached at its March 28, 2018, meeting regarding (1) sales (and other similar) taxes collected from a lessee and (2) certain lessor costs that are paid directly by the lessee under the new leasing standard. In addition, the FASB discussed requests from stakeholders to clarify the guidance on the recognition of variable payments for contracts that include both lease and nonlease components.

Highlights of the FASB’s July 25 meeting

Jul 26, 2018

At its July 25, 2018, meeting, the FASB discussed its projects on (1) narrow-scope improvements to the lessor accounting guidance; (2) implementation of the guidance on credit losses, and (3) targeted improvements to the guidance on collaborative arrangements.

FASB makes improvements to leasing guidance

Jul 18, 2018

The FASB has issued Accounting Standards Update (ASU) No. 2018-10, “Codification Improvements to Topic 842, Leases.”

CFO Insights — Lease accounting: Six questions CFOs should ask now

Jul 12, 2018

This issue discusses questions CFOs should consider asking their chief accounting officers to facilitate compliance as the adoption of the new leases standard.

CAQ issues publication on leases for audit committees

Apr 04, 2018

The Center for Audit Quality (CAQ) has released a publication, “Preparing for the Leases Accounting Standard: A Tool for Audit Committees.”

A Roadmap to Applying the New Leasing Standard (2018)

Apr 02, 2018

This Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. In addition, the publication highlights (1) the requirements of ASC 842 that significantly differ from those in the FASB’s previous leasing guidance, ASC 840, and the IASB’s new leasing standard, IFRS 16, and (2) standard-setting developments addressing questions raised and challenges identified by stakeholders over the past two years.

Highlights of the FASB’s March 28 meeting

Mar 30, 2018

At its March 28, 2018, meeting, the FASB discussed its agenda prioritization as well as its projects on (1) hedging implementation, (2) targeted improvements to leases, and (3) financial performance reporting.

Journal entry — FASB votes to finalize ASU on practical expedient for lessor’s separation of lease and nonlease components

Mar 30, 2018

At its meeting on March 28, 2018, the FASB discussed comments received on its proposed Accounting Standards Update (ASU) related to a practical expedient for lessors to elect not to separate lease and nonlease components when certain conditions are met. The amendments in the proposed ASU are consistent with the tentative decisions made by the Board at its November 29, 2017, meeting. At this week’s meeting, the Board voted to move forward with drafting a final ASU related to the proposed practical expedient for lessors, subject to certain adjustments explained in further detail below. In addition, the FASB discussed other implementation requests received from stakeholders related to the presentation of sales taxes and property taxes and insurance included in lease contracts under the new leasing standard.

Journal entry — FASB discusses feedback on proposed targeted improvements to new leasing standard

Mar 08, 2018

At its March 7, 2018, meeting, the FASB discussed feedback on one of the two amendments in its proposed Accounting Standards Update (ASU) on targeted improvements to ASU 2016-02, "Leases." The meeting specifically addressed the proposed additional optional transition method in the new leasing standard.

Highlights of the FASB’s March 7 meeting

Mar 08, 2018

At its March 7, 2018, meeting, the FASB discussed its projects on (1) targeted improvements to leases and (2) disclosure requirements related to fair value measurement.

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