Lease accounting: Lessons learned in adopting new standards
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Lease accounting: Lessons learned in adopting new standards

3 months ago · 3 min read

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Many nonprofit organizations have adopted the new lease accounting standards (FASB Accounting Standards Codification [ASC] Topic 842, Leases) in advance of the required adoption date. Accordingly, this article accumulates some tips and insights regarding the adoption process that we hope you will find useful as your NFP or NFP client goes through this implementation.

  • Timing: Implementation of the new lease accounting standards is a time-consuming process, so NFPs should consider implementing as soon as possible. The time required to

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