FASB ASC 842: Leasehold improvements and related party leases update
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FASB ASC 842: Leasehold improvements and related party leases update

Oct 18, 2022 · 182.3 KB Download

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As entities prepare to recognize operating leases for the first time on the balance sheet under FASB Accounting Standards Codification (FASB ASC) 842, Leases, questions are increasing about the treatment of associated leasehold improvements. In this report we provide guidance about the accounting for leasehold improvements when transitioning to ASC 842. In addition, this report provides an update about recent FASB standard setting activity related to the accounting for related party leases under FASB ASC 842. Continued questions and concerns have been raised by stakeholders about accounting for related party leases under FASB ASC 842. In response, the FASB added a project to its technical agenda to address arrangements between entities under common control and made tentative decisions on certain issues.

Download the CPEA report: FASB ASC 842 – Leasehold improvements at transition and related party leases update

File name: cpea-october-2022-report–asc-842-lhi-and-related-party-leases.pdf

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