This paper reviews key aspects of the guidance in Accounting Standards Update 2016-02, Leases (Topic 842). As the first major overhaul of lease accounting since 1973, the guidance requires lessees to recognize substantially all leases on their balance sheets as lease liabilities with a corresponding right-of-use asset.
Leases: A Comprehensive Review
June 13, 2022
This paper reviews key aspects of the guidance in Accounting Standards Update 2016-02, Leases (Topic 842).
