ASC 840

FEATURED ARTICLES

All articles in this category pertain to ASC 840. ASC 840 is the former FASB lease accounting standard. Leases were classified as either capital or operating under ASC 840 and accounted for accordingly. Operating leases were not recorded on the balance sheet, but capital leases were. This treatment changed under ASC 842, which replaces ASC 840 as the current guidance for private and public companies that follow US GAAP.

Learn more about ASC 840 Leases below.

Recent articles

Sublease Accounting under ASC 840 and ASC 842

by LeaseQuery | Nov 2, 2020 | Amortization Schedules, Articles, ASC 840, ASC 842, Debt, Lease Accounting, Loans, US GAAP Accounting

Learn how to account for a sublease under ASC 842.

Tenant Improvement Allowance Accounting for Lessees under ASC 840

by LeaseQuery | Oct 4, 2020 | Amortization Schedules, Articles, ASC 840, Debt, Lease Accounting, Loans, US GAAP Accounting

Learn how to account for a TIA under ASC 840.

Rent Abatement and Rent-Free Period Accounting under US GAAP

by LeaseQuery | Jul 27, 2020 | Amortization Schedules, Articles, ASC 840, ASC 842, Debt, Lease Accounting, Loans, US GAAP Accounting

Learn how to account for rent abatement and periods of free rent.

FASB Proposes Delaying Effective Date of Certain Standards Due to COVID-19 Pandemic

by CPA Journal | Apr 29, 2020 | Articles, ASC 606, ASC 840, ASC 842, Lease Accounting, Revenue Recognition

On April 8, 2020, FASB and its staff met to discuss various issues relating to the implications of the coronavirus (COVID-19) pandemic on certain FASB accounting standards–setting activities. The board’s discussions covered the impact of the current efforts to address...