NAA2204P. Transition to the Leases Standard

FASB Accounting Standards Update (ASU) 2016-02, Leases, represents the culmination of a decade-long project to overhaul current lease accounting rules. The new standard creates Topic 842, Leases, in the FASB Accounting Standards Codification (FASB ASC) and supersedes FASB ASC 840, Leases. The new lease standard ushers in significant changes for all entities that are lessees or lessors.

Join this special presentation provided by the Center for Plain English Accounting (CPEA) to gain an understanding of critical issues and challenges involved in transitioning to FASB ASC 842. Key topics covered include related party leases and the latest developments in that area, and an in-depth look at transition methods and issues.

Learning Objectives:

• Interpret and evaluate important transition challenges related to FASB ASC 842.
• Evaluate ASC 842's rules for related party leases and FASB's related standard setting developments.