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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 issues ASUs to defer effective dates of certain major standards

Nov 15, 2019

The FASB has issued Accounting Standards Updates (ASUs) 2019-09 and 2019-10, which delay certain effective dates of four major standards.

Investment Management — Accounting and Financial Reporting Update (2019)

Nov 06, 2019

The latest edition of our annual update highlights selected accounting and reporting developments that may be of interest to investment management entities. Developments in 2019 include the standard setters’ continued work on issues related to the implementation of the new leasing standard as well as the AICPA’s issuance of a comprehensive new accounting and valuation guide. The publication also lists selected ASUs that were issued in calendar year 2019 and summarizes the current status of, and next steps for, selected active FASB projects.

Journal entry — FASB votes to finalize ASUs on amendments to the effective dates for credit losses, derivatives and hedging, leases, and insurance standards

Oct 18, 2019

At its meeting on October 16, 2019, the FASB concluded deliberations on two proposed Accounting Standards Updates (ASUs) related to the amended effective dates for (1) the credit losses, derivatives and hedging, and leases standards and (2) the insurance standard.

Highlights of the FASB’s October 16 meeting

Oct 18, 2019

At its October 16, 2019, meeting, the FASB discussed (1) the effective dates of its standards on credit losses, hedging, leases, and insurance for private companies, not-for-profit organizations, and small public companies and (2) multiple-layer hedging.

Deloitte comments on FASB's proposal to defer the effective dates for ASC 326, ASC 815, and ASC 842

Sep 16, 2019

Deloitte & Touche LLP has commented on the FASB's proposed ASU, "Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates."

FASB proposes to delay certain effective dates for private companies, NFPs, and small public companies

Aug 15, 2019

The FASB has issued a proposed Accounting Standards Update (ASU), “Effective Dates,” which would give private companies, not-for-profit (NFP) entities, and certain small public companies additional time to implement the Board’s standards on current expected credit losses (CECL), hedging, and leases.

Highlights of the FASB’s July 17 meeting

Jul 19, 2019

At its July 17, 2019, meeting, the FASB discussed (1) reference rate reform; (2) effective date considerations for private companies, not-for-profit organizations, and small public companies; (3) the lessor’s accounting for operating lease receivables under ASC 842, “Leases”; and (4) implementation of the contract combination guidance in ASC 606, “Revenue From Contracts With Customers,” by colleges and universities.

Heads Up — FASB tentatively changes effective dates for new accounting standards

Jul 18, 2019

This Heads Up discusses the FASB’s recent tentative decisions to change the manner in which it staggers effective dates for major standards and to amend the effective dates in some of its recently issued or amended major accounting standards to give implementation relief to certain types of entities.

Journal entry — FASB further clarifies accounting for impairment of operating lease receivables

Jul 18, 2019

On July 17, 2019, the FASB discussed, in a non-decision-making meeting, accounting for impairment of operating lease receivables.

Heads Up — Reasonably certain of your lease disclosures? Observations on first-quarter filings

Jul 01, 2019

This Heads Up summarizes the presentation and disclosure trends we have observed in our review of lessee and lessor financial statements, as well as select lessee and lessor disclosures, provided in the public filings of a sample of companies that adopted the FASB’s new leasing standard (ASC 842) as of the first quarter of 2019.

Financial Reporting Alert 19-1 — Assessing the collectibility of operating lease receivables

Jul 01, 2019

This Financial Reporting Alert addresses the questions that have arisen about how entities that have adopted the FASB’s new leasing standard, ASC 842, should account for the collectibility of operating lease receivables that are or are expected to become impaired. The alert notes that the FASB’s staff has indicated that entities must apply the guidance in ASC 842-30 that requires an assessment of the probability of payment, and they may supplement that guidance with the use of a general or portfolio reserve approach. Consistent application and transparent disclosure of the policy elected are critical.

A Roadmap to Accounting for Noncontrolling Interests (2019)

May 25, 2019

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.

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."

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