A practitioner’s guide to lease accounting

In 2016, the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued new directives on how issuers should account for and disclose operating leases on their financial statements. The aim of these new standards was to provide investors with transparent and comparable information about all lease obligations. The resulting standards are known as the Accounting Standard Codification (ASC) 842 and the International Financial Reporting Standard (IFRS) 16.

In this introductory guide for finance departments on lease accounting, you will find:

An overview of the new directives on how to handle leases on the balance sheet and the impact of the rules
Frequently asked questions
Key points of guidance including collateralization, corporate credit rating, subsidiary vs parent, length of lease obligation, risk free rates, and cost of funds to be used in-lieu of IBRS
Detail on the common issues when apply the guidance
Bloomberg solutions to help with lease accounting

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