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FASB makes targeted improvements to lease accounting guidance

  • FASB document Image

Jul 31, 2018

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

The ASU provides (1) an optional transition method that entities can use when adopting ASC 842 and (2) a “practical expedient that permits lessors to not separate nonlease components from the associated lease component if certain conditions are met.”

For more information, see the press release and ASU on the FASB’s Web site. Also, stay tuned for Deloitte's upcoming Heads Up on this topic.

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