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2016

December 5, 2016 — Leases — FASB Discusses ASC 842 Implementation Issues

Leases — FASB Discusses ASC 842 Implementation Issues

Accounting Journal Entry
December 5, 2016
At its November 30, 2016, meeting, the FASB discussed implementation issues related to the new leases guidance in ASC 842.1 This was the first time the Board publicly addressed stakeholder feedback regarding the implementation of the new guidance since it was issued in February 2016 (ASU 2016-022). The Board indicated that it will use future board meetings to address implementation issues raised by stakeholders rather than forming a transition resource group, as it did to address transition issues related to the new revenue recognition and credit losses guidance.

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