Transcription of Guide to Presentation and Disclosure Under ASC Topic 842
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Guide to Presentation and Disclosure Under ASC Topic 842
1 Guide to Presentation and Disclosure Under ASC Topic 842 Effective on January 1, 2019, calendar-year public business entities adopted the financial Accounting Standard Board (FASB) s Accounting Standards Update (ASU) 2016-02, Leases ( Topic 842), including numerous related amendments. While most companies have completed their analysis of the quantitative impact of the standard at adoption, questions may still exist as to how the information should be presented in the first quarter financial statements on Form 10-Q or for regulatory reporting on your financial institution s call report. The following information summarizes the key considerations for lessees related to the Disclosure implication of the new leasing standard.
financial statements . Presentation 1 displays the finance and operating leases both as a component of premises and equipment with a similar presentation for the related liabilities, which aligns with regulatory ... For ASC Topic 842, the income statement presentation is more straightforward than the balance sheet presentation.
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