3.6 Reassessment of Whether a Contract Is or Contains a Lease
ASC 842-10
15-6 An entity shall reassess whether a contract is or contains a lease only if the terms and conditions of the
contract are changed.
Lease identification is performed at contract inception in accordance with ASC
842-10-15-2. However, in accordance with ASC 842-10-15-6, the reassessment of
“whether a contract is or contains a lease” is not revisited unless “the terms and
conditions of the contract are changed.” See Section
8.6.1.1 for additional information.