Lease Accounting Standards and Updates

Where the lease accounting standards stand, and how they got there. Most of this category is a contemporaneous record of the FASB and IASB deliberations from 2013 to 2016 that produced ASC 842 and IFRS 16 — useful for understanding why a rule reads the way it does, but not a statement of current requirements. The first group below is what is in force today.

31 articles across 3 groups.

Start here ASC 842 Effective Dates: Public and Private Companies

The dates in force, and the two deferrals that moved the private-company deadline to fiscal years beginning after 15 December 2021.

What applies today

Current effective dates, scope and the FASB's own review of how the standard has worked.

ASC 842 Updates: Effective Dates & Transition TipsFASB has offered several reliefs to organizations transitioning, which also includes shift of transition dates from December 31st, 2019 to December …
When Does the Lease Accounting Standard Take Effect?In a pivotal decision made during its meeting on November 11, 2015, the Financial Accounting Standards Board (FASB) took a significant step towards …
How ASC 842 Lease Accounting Standards Affect TaxationThe FASB ASC 842 Lease Accounting changes, which became effective at the end of 2021 for all reporting periods after December 15th 2021, haven’t just …
Lease Accounting Update: Key Lease Components in ContractsThe FASB and the IASB (The Boards) met on January 30, 2013 to continue further deliberations on the Lease Accounting Project. The discussions were …
FASB ASC 842 Roundtable: Key TakeawaysOn September 12, 2025, the FASB held a public roundtable to review the effectiveness of ASC 842. Stakeholders discussed benefits, costs, and …
FASB PMAC Feedback on ASC 842: Benefits & CostsPMAC members agree that the leases standard (ASC 842) enhances transparency for investors and improves lease management, but note high initial …
FASB PIR: ASC 842 Costs Exceeded Expectations for CFOsFASB’s review of ASC 842 found implementation and application costs were significantly higher than expected, even as investors favored balance sheet …
Essential Steps for Preparing for Lease Accounting ChangesThe Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) are proposing major changes in the …
How ASC 842 Changes Lease Record-KeepingThe implementation of the new lease accounting standard, ASC 842, represents a pivotal moment in the world of finance and accounting. While its …
ASC 842 Refresher: Essential Insights and Recent UpdatesThe ASC 842 Lease Accounting Standard, also known as Accounting Standards Update (ASU) No. 2016-02, is a set of guidelines established by the …

Other lease standards

IFRS 16 for entities reporting internationally, and the GASB standards for government.

A Guide to Lease Accounting with IFRS 16On January 13, 2016, the International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard 16 Leases (“IFRS 16” or …
GASB 96 Explained: Subscription-Based IT ArrangementsGASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITAs), was issued in May 2020. The statement establishes guidelines …
Understanding GASB Lease Standards in Government AccountingIn June 2017, the Governmental Accounting Standards Board (“GASB”) issued Statement No. 87 – Leases which establishes new accounting standards to be …

How the standard was written

Board meetings, exposure drafts and decisions from 2013 to 2016, reported as they happened. Historical record rather than current guidance — read the group above for what is actually in force.

Key Changes in the Upcoming Lease Accounting StandardIn the past two months, there has been a notable silence surrounding the proposed changes to lease accounting. However, it's important to understand …
Lease Exposure Draft: How Expenses Are PresentedIn our posting earlier this month, we provided highlights of the May 2013 revised Exposure Draft jointly issued by the FASB and IASB proposing major …
Revised Lease Accounting Exposure Draft ExplainedThe Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) issued a Revised Exposure Draft (“ED”) …
The New Lease Standard and Its Effective DateThe recent decision by the Financial Accounting Standards Board (FASB) to issue an updated Lease Accounting Exposure Draft has stirred considerable …
Lease Classification and Expense Recognition ChangesIn our review of the FASB and IASB tentative conclusions reached in April, we noted that the Boards had agreed to introduce two classifications for …
FASB Lease Discussions Summary from December 2 MeetingTENTATIVE BOARD DECISIONSTentative Board decisions are provided for those interested in following the Board’s deliberations. All of the reported …
Highlights from the July 23, 2014 Joint Board MeetingOn July 23, 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), collectively referred to as …
FASB Lease Project Update: Important Meeting TakeawaysThe Financial Accounting Standards Board (“FASB” or “the Board”) met on August 27, 2014 to deliberate the proposed lease accounting standard project. …
FASB/IASB Lease Accounting Meeting Recap: December 16, 2014The topic of leases has been an ongoing point of discussion for the Financial Accounting Standards Board (FASB) and the International Accounting …
February 2015 Update on the Lease Accounting ProjectThe Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”), collectively (“the Boards”) met …
October 2015 Lease Accounting Changes: Important UpdatesThe lease accounting project is getting much closer to finalization. At its October meeting, the Financial Accounting Standards Board (“FASB” or “the …
FASB/IASB Roundtable: Lease Accounting TakeawaysEarlier this week, I attended one of the Joint FASB/IASB Roundtable session on Leases held in Norwalk CT. There were only about 15 attendees from …
IASB Announces Release of New Lease StandardThe anticipation surrounding the new lease standard is reaching its zenith. As per information from the Massachusetts Society of CPAs, it is expected …
FASB Announces Upcoming Release of Lease Accounting StandardExciting developments are underway in the world of U.S. lease accounting as the Financial Accounting Standards Board (FASB) gears up to issue new …
FASB Lease Accounting Standards Finalized: Key DetailsIn a highly anticipated move, the Financial Accounting Standards Board (FASB) is gearing up to unveil its long-awaited lease accounting standard. …
Understanding the Latest Lease Accounting Guidance ReleasedThe Financial Accounting Standards Board (“FASB”) issued the new lease accounting standard on February 25, 2016. As it pertains to lessees, the new …
FASB and IASB Meeting Updates: Key HighlightsThe issuance of the final standard for lease accounting will likely be delayed until the first half of 2012. At the least, there will be another draft …
Impact of Proposed Lease Accounting Changes on RetailersThe Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) (collectively “the Boards”) are in the …

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