On October 20, 2020, the FASB issued for public comment an exposure draft (ED) of a proposed ASU1 that addresses the following issues stakeholders have raised regarding the implementation of ASC 842:2
- Sales-type leases with variable lease payments — lessor only (Issue 1).
- Option to remeasure lease liability — lessee only (Issue 2).
- Modifications reducing the scope of a lease contract (Issue 3).
FASB Proposed Accounting Standards Update (ASU), Leases (Topic 842): Targeted Improvements.
For titles of FASB Accounting Standards Codification (ASC) references, see Deloitte’s “Titles of Topics and Subtopics in the FASB Accounting Standards Codification.”
IFRS 16, Leases.
See paragraphs 62 and 65 of IFRS 16.
See paragraph 42 of IFRS 16.
See Appendix A of IFRS 16.