The new lease accounting standard – ASC 842

The new lease accounting standard – ASC 842

ASC 842 Leases fundamentally changes lease accounting for lessees. Have you already familiarized yourself with the new changes and regulations of the new lease accounting standard?

Operating leases which used to be treated “off-balance” are now required to be recognized on-balance, resulting in the recognition of a right-of-use asset and a lease liability. With the introduction of the new topic, companies are facing major procedural challenges which entail the need for systematic preparation and monitoring of all leases.

In this white paper, you will find a concise overview of the new guidance ASC 842 and its major impacts on lessees.

Contents of this white paper

  • What is the objective of ASC 842?
  • What are the new requirements introduced by ASC 842?
  • How will the new accounting standard affect lessees?
  • How can you use LucaNet to manage the implementation of the new requirements?