ASC 842: Difference between revisions
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imported>Doug Williamson (Create page. Sources: The Treasurer, December 2019, p34, Deloitte webpage https://www.iasplus.com/en-us/standards/fasb/broad-transactions/asc842 and Lease accounting.com webpage https://leaseaccounting.com/what-is-asc-842/) |
imported>Doug Williamson (Add link.) |
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* [[Lessee]] | * [[Lessee]] | ||
* [[Off balance sheet]] | * [[Off balance sheet]] | ||
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[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 21:39, 19 December 2019
US accounting.
Abbreviation for Accounting Standards Codification Topic 842 Leases, issued by the US Financial Accounting Standards Board.
ASC 842 requires most leases to be accounted for on the reporting lessee's balance sheet.
This includes operating leases that were previously off-balance sheet.
