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Understanding the Leasing Standard: Transitioning to the New Standard
Posted by Larry Kaplan on Fri, Jun 2, 2017 @ 10:25 AM

The effective date of the update to lease accounting is drawing closer. In this blog, we will discuss lease modification and the transition guidance. To prepare for the standard, entities should be evaluating their adoption process and how it will affect their operations.

How leases are transitioned to the guidance under FASB ASU 2016-02, Leases (Topic 842) will depend on the types of leases in place at the date of adoption and whether electing available practical expedients makes sense for the organization.

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Topics: Larry Kaplan, lease accounting changes, Lease Standards, Leasing, Leaseback Accounting, leasing standard

Understanding the Leasing Standard: Sale and Leaseback and Other Types of Lease Transactions
Posted by Larry Kaplan on Mon, Dec 5, 2016 @ 05:02 PM

The leasing standard changes unveiled with the Financial Accounting Standards Board (FASB) Accounting Standards Update No. 2016-02, Leases (Topic 842) will change the way many organizations account for their leases. In addition to modifying the lessee and lessor accounting models, the new standard also introduces changes to the accounting model for sale-leaseback transactions, as well as other leasing concepts. Organizations with leasing arrangements should take note of how the changes will affect their lease accounting processes.

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Topics: Larry Kaplan, lease accounting changes, Lease Standards, Leasing, Leaseback Accounting, leasing standard

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