A Roadmap to Applying the New Leasing Standard (2019)
The body of the Roadmap combines the requirements in ASC 842 with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. In addition, the Roadmap highlights (1) the requirements of ASC 842 that significantly differ from those in ASC 840 and IFRS 16 and (2) recent standard-setting developments. We hope that this publication will enable entities to deal with some of the more challenging aspects of ASC 842. |
Summary of Changes Since Issuance (Links Are Available to Subscribers Only)
The following new Q&As were added to this Roadmap since its issuance in February 2019:
Date of Change | Q&A Reference | Title |
|---|---|---|
July 17, 2019 | Rights to Use Land That Include More Than Natural Resource Rights | |
July 17, 2019 | Impact of ROU Asset Impairment Indicator on Lease Term | |
July 17, 2019 | “Key Money” Payment Made to an Existing Lessee to Assume a Lease | |
July 17, 2019 | ROU Assets That Are Held for Sale — Amortization Considerations | |
July 17, 2019 | Reduction in Lease Term Versus Lease Termination | |
July 17, 2019 | Lease Modifications That Involve More Than One Change | |
July 17, 2019 | Lessor’s Accounting for an Operating Lease When Collectibility Subsequently Becomes Not Probable | |
July 17, 2019 | Recognition of a General Allowance for Operating Lease Receivables | |
July 17, 2019 | Income Statement Classification of General Allowance for Operating Lease Receivables |
The following other changes were made to this Roadmap since its issuance in February 2019:
Date of Change | Location of Change | Title | Description |
|---|---|---|---|
July 17, 2019 | Lease Modifications That Involve More Than One Change | Added discussion of accounting considerations when a lease modification includes multiple changes | |
July 17, 2019 | Foreign Exchange Rate Considerations Related to Lease Modifications and Remeasurements | Expanded to address foreign exchange rate considerations related to lease remeasurement events | |
July 17, 2019 | Collectibility | Amended to reflect practice developments related to a lessor’s accounting for the collectibility of operating lease receivables | |
July 17, 2019 | Impact of Contingent Repurchase Provisions on Sale-and-Leaseback Accounting | Expanded discussion and added reference to Deloitte’s Revenue Roadmap | |
July 17, 2019 | Statement of Cash Flows | Amended discussion of acceptable approaches to presenting changes in operating lease ROU assets in the statement of cash flows | |
July 17, 2019 | Components of Net Investments in Leases | Expanded to include Changing Lanes — ASC 842 Amends the Disclosure of the Components of Net Investments in Leases | |
July 17, 2019 | Variable Lease Income | Added discussion of lessor disclosure requirements related to variable lease income |