Heads Up — FASB modifies accounting policy election for lessees that are not public business entities

Published on: 12 Nov 2021

This Heads Up discusses the FASB’s recently issued Accounting Standards Update (ASU) No. 2021-09, Discount Rate for Lessees That Are Not Public Business Entities. The ASU allows lessees that are not public business entities to make an accounting policy election by class of underlying asset, rather than on an entity-wide basis, to use a risk-free rate as the discount rate when measuring and classifying leases.


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