ASC 842: Unanticipated costs and complexities in adoption
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ASC 842: Unanticipated costs and complexities in adoption

3 years ago · 253.8 KB Download

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Calendar year SEC registrants are required to adopt the new lease standard (primarily codified in FASB ASC 842) and all related disclosures with their first quarter 2019 Form 10-Qs. The quarterly financial statements and related disclosures show the impact and provide a rich source of information for private companies to learn about the potential impacts of adoption of the lease standard. In this report, we focus on lessons learned from current adopters of the lease standard and related technical accounting matters. Specifically, we focus on the impact to lessees related to:

  • “Unanticipated cost and complexities” and demand for lease software

  • Transition: journal entries for all

  • Transition: method

  • Transition: practical expedients- considerable nuances

  • Practical expedients- segregating lease and non-lease components

  • Discount rate determination

  • Additional disclosures

Download the Report on unanticipated costs and complexities in adopting ASC 842

File name: CPEA-ASC-842-costs-complexities.pdf

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