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Broad Transactions

ASC 840 Leases

ASC 840 Leases

This Topic comprises four Subtopics (Overall, Operating Leases, Capital Leases, and Sale-Leaseback Transactions).

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  • US GAAP
ASC 840 comprises four Subtopics, below is an overview of each Subtopic.

840-10 Overall

ASC 840-10 notes that it “establishes the classification criteria for all leases and provides accounting and financial reporting guidance that applies without regard to a lease’s classification.”

840-20 Operating Leases

ASC 840-20 notes that it “addresses accounting by lessees and lessors for leases that have been classified as operating leases in accordance with the guidance in Subtopic 840-10.”

840-30 Capital Leases

ASC 840-30 notes that it “addresses accounting by lessees and lessors for leases that have been classified as capital leases in accordance with the guidance in Subtopic 840-10.”

840-40 Sale-Leaseback Transactions

ASC 840-40 notes the following:
This Subtopic addresses accounting by lessees and lessors for sale-leaseback transactions.
Sale-leaseback transactions involve the sale of property by the owner and a lease of the property back to the seller.