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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.

Journal entry — FASB issues Codification improvements to new leasing standard

Mar 07, 2019

On March 5, 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements, which amends certain aspects of the Board’s new leasing standard, ASU 2016-02.

FASB issues guidance to address lessor implementation issues

Mar 05, 2019

The FASB has issued an Accounting Standards Update (ASU), “Leases (Topic 842): Codification Improvements.”

Highlights of the FASB’s February 13 meeting

Feb 14, 2019

At its February 13, 2019, meeting, the FASB discussed its projects on (1) distinguishing liabilities from equity, (2) segment reporting, and (3) codification improvements related to leases.

Journal entry — FASB concludes deliberations on proposed ASU on codification improvements to new leasing standard and adds codification improvement on interim disclosure requirements in transition

Feb 14, 2019

At its February 13, 2019, meeting, the FASB concluded deliberations on its December 2018 proposed Accounting Standards Update (ASU) related to Codification improvements to ASC 842. In addition, after discussing comments raised by stakeholders on issues not included in the proposed ASU, the Board tentatively decided to add a Codification improvement on interim disclosure requirements in transition to the new leasing standard.

A Roadmap to Applying the New Leasing Standard (2019)

Feb 14, 2019

This Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. In addition, the Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments (through the February 13, 2019, FASB meeting). We hope that this publication will enable entities to deal with some of the more challenging aspects of ASC 842.

Real Estate — Accounting and Financial Reporting Update

Jan 28, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to entities in the real estate sector.

Insurance — Accounting and Financial Reporting Update

Jan 18, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to entities in the insurance sector.

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

Dec 19, 2018

The latest 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

Dec 11, 2018

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to investment management entities.

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.

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