LeaseAccounting.com is the leading online resource for accounting professionals seeking to comply with the new ASC 842 and IFRS 16 standards.
New GAAP and Accounting Change
Experts are calling the new leasing standards one of the “biggest accounting changes ever.” The transition to ASC 842 and IFRS 16 will bring several trillion dollars of operating leases onto corporate balance sheets in the coming years. Combined with the new Revenue Recognition standard (ASC 606), lease accounting is bringing massive change to the area of financial reporting. In fact, the changes are so impactful that some have coined the phrase “New GAAP.”
Lease Accounting Standards
The goal of LeaseAccounting.com is to help companies, both public and private, transition to the new lease accounting standards as smoothly as possible. We have designed this website to be your primary source for technical and educational information about the new lease accounting standards.
Here you will find links to the best available documentation on:
Comparing the standards for IFRS and US GAAP
Classifying leases, separating lease and non-lease components
Topics such as sub-leases, build-to-suit arrangements, and sale/leaseback transactions
Reassessments and modifications
Transition strategies and comparative reporting