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Chapter 2 — Financial Statement Accounting and Disclosure Topics

2.14 Leases

2.14 Leases

The focus of the SEC staff’s comments on leasing transactions has shifted from registrants’ accounting under the legacy leasing guidance (codified in ASC 840) to their application of the current leasing standard (codified in ASC 842). The next sections discuss comment letter trends and other observations related to the application of ASC 842.