For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.
Join this webcast as we discuss high-risk areas to consider as your company is implementing the new ASC 842 lease accounting standard.
ASU 2021-05 addresses the accounting for a lease with variable lease payments that do not depend on a reference index or a rate.
The FASB recently proposed amendments to address certain issues arising from the adoption of the leases standard.