Accounting guide , PwC US

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We’ve updated our Leases guide for the latest lease accounting amendments issued by FASB and new insights.

This guide was fully updated in August 2018.

PwC’s Leases guide is a comprehensive resource for lessees and lessors to account for leases under newly issued US GAAP guidance codified in ASC 842, Leases. Calendar year-end public business entities will need to adopt the new leases standard on January 1, 2019.

So that you’re ready to adopt the standard, this guides examines:

  • Which arrangements are within the scope of the new leases guidance
  • How lessees and lessors should classify and account for leases
  • When a lessee or lessor should reassess its lease classification
  • How lessees and lessors should account for modifications to a lease
  • Unique leasing transactions, including sale leasebacks and leveraged leases
  • How leases should be presented in a company’s financial statements
  • The effective date and transition of the new guidance
  • How to account for lease and nonlease components
  • Practical expedients published by the FASB

Downloading the guide onto an iPad

  1. Click on the button below to open the document:
  2. Once the PDF opens, click on the Action button, which appears as a square icon with an upwards pointing arrow.
  3. From within the action menu, select the “Copy to iBooks” option.
  4. The guide will then be saved to your iBooks app for future access.

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Leasing — Reminders as you prepare for adoption

Getting ready to adopt the new leasing standard? In this episode, PwC leasing specialists discuss overall readiness, new standard setting on transition elections and practical expedients, implementation challenges and best practices.  

Listen to the other podcast in this series: 
Episode 31: Leasing - remeasurement, modifications and terminations

Listen to the podcast

Subscribe to the series

PwC's leasing video series

Topics covered:

  • Transition 
  • Practical expedients
  • Determining the lease term
  • Identifying embedded leases
  • Accounting for variable lease payments
  • Discount rate for lease liabilities
  • How lessee should account for finance and operating leases

Watch our leasing videos


Contact us

John Bishop
Partner, National Professional Services Group, PwC US

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