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.
Need to get up to speed on the new leasing standard? This podcast will take you from zero to sixty on the new models for lessee and lessor, and how they can impact you.
This supplement to our In depth on leases highlights areas that could create challenges for entertainment and media companies.
The FASB has issued its new lease accounting standard, which will impact almost all entities, particularly lessees.
This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.
In this recorded webcast, we present an overview of the GAAP leasing standard change and discuss the ways in which it will impact tax departments at energy companies.
This supplement to our In depth on leases highlights areas that could create challenges for pharmaceutical and life sciences companies.
Finance and real estate executives share their views on the impact of the new lease accounting standards.
This supplement to our In depth on leases highlights areas that could create challenges for insurance companies.
This supplement to our In depth on leases highlights areas that could create challenges for technology companies.
Is leasing your business? The new leasing standard makes changes to the accounting that will affect the leasing landscape. Watch now to learn more.