ASC 840 Leases

This Topic comprises four Subtopics (Overall, Operating Leases, Capital Leases, and Sale-Leaseback Transactions).

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US GAAP

10 Overall 20 Operating Leases 30 Capital Leases 40 Sale-Leaseback Transactions 958 Not-for-Profit Entities 974 Real Estate—Real Estate Investment Trusts 978 Real Estate—Time-Sharing Activities 980 Regulated Operations

Roadmap: Leases (for Entities That Have Adopted ASC 842)

ASC 840 comprises four Subtopics, below is an overview of each Subtopic.

840-10 Overall

ASC 840-10 notes that it “establishes the classification criteria for all leases and provides accounting and financial reporting guidance that applies without regard to a lease’s classification.”

840-20 Operating Leases

ASC 840-20 notes that it “addresses accounting by lessees and lessors for leases that have been classified as operating leases in accordance with the guidance in Subtopic 840-10.”

840-30 Capital Leases

ASC 840-30 notes that it “addresses accounting by lessees and lessors for leases that have been classified as capital leases in accordance with the guidance in Subtopic 840-10.”

840-40 Sale-Leaseback Transactions

ASC 840-40 notes the following:

This Subtopic addresses accounting by lessees and lessors for sale-leaseback transactions.

Sale-leaseback transactions involve the sale of property by the owner and a lease of the property back to the seller.