About Us

LeaseAccounting.com is the leading online resource for accounting professionals seeking to comply with the new ASC 842 and IFRS 16 standards.

Information

New GAAP and Accounting Change

Experts have called the new lease accounting standards one of the “biggest accounting changes ever.” The transition to ASC 842 and IFRS 16 brought several trillion dollars of operating leases onto corporate balance sheets. 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.”

Interpretation

Interpreting the

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

Compliance

Getting Compliant with the

Lease Accounting Standards

For more information on achieving and maintaining compliance with the new standards, be sure to check out our sponsor’s website — LeaseAccelerator — for practical advice on:

LeaseAccelerator

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You’ll get tips on the new lease accounting standards, lease administration and best practices on data collection, budget planning, project strategies, and more.