The adoption date of the new lease accounting standard (ASC 842) for private companies is fast approaching, effective for annual reporting periods after December 15, 2021.
On Wednesday, March 2 , Grassi’s Construction Advisors hosted a live video session reviewing the key provisions of ASC 842 to help you adopt 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
Tune in to get your lease accounting questions answered, and keep your finger on the pulse of industry best practices.