Assessing land easements under the new leases standard

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In depth , PwC US Apr 24, 2018

Have an easement? Your accounting may change under the new leases standard - let us explain how.

Overview

The definition of a lease in the new leases standard may impact the accounting for easements. To assist with the transition, the FASB issued a practical expedient for existing or expired easements not previously accounted for as leases.

An easement entered into (or modified) on or after the adoption of the new leases standard should be evaluated to determine whether it contains a lease. This In depth provides a framework to evaluate easement arrangements under the new leases standard.

 

To have a deeper discussion on the new leases standard, please contact:

John Bishop

Partner, National Professional Services Group, PwC US

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Mark Pollock

Partner, National Professional Services Group, PwC US

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Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

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Marc Jerusalem

Director, National Professional Services Group, PwC US

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Jillian Pearce

Senior Manager, National Professional Services Group, Florham Park, PwC US

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David Schmid

IFRS & US Standard Setting Leader, National Professional Services Group, PwC US

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