Be prepared to implement the new leasing standard!
Now that private companies are instituting ASC 842 Leases, the updated lease accounting standard, business professionals may benefit from some additional advisement.
On Wednesday, December 7, Grassi’s Manufacturing & Distribution advisors hosted a live video session to review the key provisions of ASC 842 Leases and answers questions you had as you were adjusting to the new standard. Topics of discussion included:
- An overview of ASC 842
- Accounting and financial statement changes
- Updated definition of leases and determining their classifications
- Related party and embedded lease matters
- Financial Accounting Standards Board (FASB) proposed amendments
Access the session recording to learn more about ASC 842 best practices.