View source for ASU 2016-02 Leases (Topic 842)

''Lease accounting - US''.


<span style="color:#4B0082">'''''Changes to lease accounting in the US'''''</span>

:"In addition to the changes that IFRS 16 brings, treasurers need to be aware of the FASB's new accounting standard ASU 2016-02 Leases (Topic 842).

:Although the [US and international standard setting] boards were aiming to fully converge, their final standards differ in some key areas.

:To illustrate, while both international and US accounting standards will result in all leases being accounted for on balance sheet, the FASB decided to have a dual classification model for leases: finance leases and operating leases.

:Lease classification affects measurement of the ROU asset, lease expense and income statement presentation."


:''The Treasurer magazine, September/October 2017, p40 - Paul Lippitt and Armaghan Haq.''


==See also==
*[[ASC 842]]
*[[FASB]]
*[[Finance lease]]
*[[IFRS 16]]
*[[Lease]]
*[[Operating lease]]
*[[ROU]]

[[Category:Accounting,_tax_and_regulation]]