ASC 842


All articles in this category pertain to ASC 842. ASC 842 is the most recent FASB lease accounting standard for private and public companies that follow US GAAP. It supersedes ASC 840. This new standard provides guidance on accounting for agreements meeting the standard’s definition of a lease. It also requires operating leases to be recorded on the balance sheet.

Learn more about ASC 842 below.

ASC 842 Transition Guide

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ASC 842 Transition Guide