Transcription of Frequently Asked Questions About the FASB’s New Leases …
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Heads Up | Volume 24, Issue 12. April 25, 2017. In This Issue Introduction Frequently Asked Questions About .. Scope Definition of a the FASB's New Leases Standard Lease by Deloitte & Touche LLP's National Office, Accounting Services Lessee Model Introduction Lessor Model It's been over a year since the FASB issued ASU 2016-02,1 its new standard on accounting Lease Classification for Leases (codified in ASC 842).2 Although the standard will not be effective until 2019,3. Ingredients of the entities have already begun raising implementation In addition, many Questions have Lease Model arisen About the standard's fundamental concepts, including the definition of a lease, lease Presentation and payments, and presentation and disclosure.
Form 10-Q disclosure requirements under SEC Regulation S-K, Item 308(c), related to material changes in ICFR should be considered. • SAB Topic 1.M (SAB 99) — Entities may find the guidance on materiality in SAB Topic 1.M helpful when identifying an appropriate capitalization threshold for leases. Example
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