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The FASB’s lease accounting standard change, ASU 2016-02, Leases (Topic 842), presents dramatic changes to the balance sheets of lessees. Among many of the changes, lessor accounting is updated to align with certain changes in the lessee model and the new revenue recognition standard.
Our comprehensive accounting and reporting guide on lease accounting is available to help you with your company’s implementation.
How should a lessee account for variable lease payments under the new leases guidance? See this video for details.
Lessees will soon need to recognize lease liabilities for almost all leases. Find out why the discount rate matters in this video.
A recent PwC survey found that only 1% of companies had completed adoption of the new lease accounting rules. For the other 99%, we offer some lessons learned to date from companies that have already made substantial progress with their implementations to help smooth the path forward.
These industry-specific supplements complement PwC’s In depth overview of the new lease accounting standard (ASC 842). They provide examples and further insights into ways entities within the industry are likely to be affected.