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Financial Reporting Commercial Leases

Opportune LLP

ASC 842: Implementing The New Lease Accounting Standard

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In 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases. This new lease accounting standard (ASC 842) significantly impacts how private and public businesses across...more

White & Case LLP

Sale and Triple Net Leasebacks: On the rise or doomed to the history books?

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On 1 January 2019, International Financial Reporting Standards 16 came into effect, which introduced a change in reporting requirements for operating leases (such as leaseback leases). But has this had the negative effect on...more

Bennett Jones LLP

Are You Ready? IFRS 16 and Your Contractual Arrangements

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IFRS 16 Leases becomes effective for annual reporting periods beginning on, or after, January 1, 2019. Consequently, entities with a December 31 year end, who did not adopt the new standards early, will report financial...more

Opportune LLP

Under New Lease Standard: Interpreting ‘Class of Underlying Asset’

Opportune LLP on

The Financial Accounting Standards Board (FASB) has issued several new Accounting Standards Codifications (ASC) and Accounting Standards Updates (ASU) over the past two years. This has resulted in management teams furiously...more

Opportune LLP

FASB Issues Guidance To Ease Lease Accounting Transition

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The Financial Accounting Standards Board (FASB) on July 30 issued an “Accounting Standards Update (ASU) 2018-11, Leases (Topic 842): Targeted Improvements” that aims to reduce costs and ease implementation of the lease...more

Goulston & Storrs PC

New Lease Accounting Rules Are Final: Retailers and, Ultimately, Landlords Can Expect Changes

Goulston & Storrs PC on

We recently wrote about expected changes to the rules governing the way leases are accounted for on balance sheets and suggested the changes would have major implications for retailer tenants and longer term implications for...more

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