ASC 842: Lease/non-lease practical expedient – reporting consequences
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ASC 842: Lease/non-lease practical expedient – reporting consequences

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FASB ASC 842-10-15-37 provides a practical expedient to combine lease and non-lease components and treat the combined component as a lease component (practical expedient) which may be elected by underlying class of assets. The FASB provided the practical expedient to relieve cost and administrative burden of allocating consideration based on observable standalone selling prices to separate lease and nonlease components which may be of significant benefit to some lessees. The practical expedient should prove to be a significant benefit to

Download the CPEA report: FASB ASC 842: Lease/Non-Lease Component Practical Expedient- Balancing financial reporting consequences

File name: CPEA June 2022 special report - FASB ASC 842 lease-nonlease component practical expedient.pdf

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