The new lease accounting guidance presents an opportunity to proactively implement new processes and policies while simultaneously taking inventory of your Company’s lease populations, and assess the impact on future financial reporting.

Freeman

Eli

Demastus

Callihan

Bonde

Lease Accounting: Simplifying the discount rate debacle

Discount rates need to be captured when implementing the new lease accounting standard. The guidance for non-public companies is more lenient than that for public companies but requires significant consideration as the date approaches.

ASU 2018-11

The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2018-11 Leases – Targeted Improvements (“ASU 2018-11”). The most significant impact is relief in the comparative reporting requirements for initial adoption.