The FASB’s new lease accounting standard, ASU 2016-02, Leases (Topic 842), was issued on February 25, 2016. The new leasing standard presents dramatic changes to the balance sheets of lessees. Lessor accounting is updated to align with certain changes in the lessee model and the new revenue recognition standard.
Our lease accounting page is your resource for implementing the new leasing guidance. Here you will find helpful information and insights on the new lease accounting rules including executive level insights through our In the loop series, and a deeper dive into the leasing standard’s overall requirements with our In depth publication. Now available: a comprehensive accounting and reporting guide on lease accounting to help you with your company’s implementation. Coming soon: industry focused In depth supplements. Visit pwc.com/us/leasing for details on how PwC can assist with your approach to the new standard.
The standard is effective for US GAAP public reporting entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For private companies, the standard is effective for fiscal years beginning after December 15, 2019 and interim periods beginning the following year. Early adoption is permitted. Transition requires application of the new rules at the beginning of the earliest comparative period presented.
The FASB issued its new lease accounting standard. There are elements of the standard that could impact almost all entities to some extent, although lessees will likely see the most significant changes. Read our In brief article to learn more about the changes to lease accounting.
This publication discusses the newly-released lease accounting standard and presents considerations for companies that are significant users of real estate.
Trying to find an update on FASB standard setting? Stop looking and start listening... Hear about the standards issued in Q1 2016 including leasing, revenue updates, EITF issues and more.
In this recorded webcast we discuss the changing approach to gathering, managing, and reporting the financial details associated with equipment leasing, in response to the FASB and IASB announcing new accounting requirements.
On February 25, 2016, the FASB issued a new standard, Leases (ASC 842). Certain provisions of the new standard are particularly noteworthy for portfolio companies owned by private equity investors.
PwC's comprehensive guide to the new US GAAP leases guidance.
A roundup of PwC reports and insights on accounting for leases - a joint project of IASB and FASB - is available at CFOdirect.
Hear PwC insights on build-to-suit and sale leaseback guidance.
This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.
PwC discusses the interaction between the FASB’s new leasing and revenue guidance for lessors.
FASB’s new leasing guidance requires lessees to record leases embedded in other arrangements on their balance sheets.