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. Also available, industry focused In depth supplements. Visit pwc.com/us/leasing for details on how PwC can assist with your approach to the new standard.
Are you starting to implement the new lease standard? It may surprise you to know that a recent study revealed getting the accounting right didn’t make the top 5 challenges companies are facing. Hear PwC’s Valerie Wieman, Chad Soares and Sheri Wyatt discuss the most difficult implementation issues companies are encountering and how you can respond.