New Lease Standard (FASB ASC Topic 842)

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The FASB’s lease accounting standard change, ASU 2016-02, Leases (Topic 842), presents changes to the balance sheet of lessees, financial metrics (including debt covenants), and aligns with the new revenue recognition standard. The following is intended to provide an overview of key components of the new standard.

Your Porte Brown team will be working with you on the conversion and necessary changes applicable to your organization to implement the requirements of the new lease standard.

What Is the Impact on the Lessee?

What Are the Two Types of Leases?

Lease Payments

Lease Term

When Is It Effective?

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