New Clarity & Relief Proposed for Leases

Thoughtware Article Published: Oct 01, 2017
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Executive Summary

Accounting Standards Update 2016-02, Leases (Topic 842), requires lessees to recognize all leases with terms greater than 12 months on their balance sheet as lease liabilities with a corresponding right-of-use asset. The standard is not effective for public entities until 2019, but some questions have been raised.


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