New Lease Accounting Rules

A new lease accounting standard was released by the U.S. Financial Accounting Standards Board on Feb. 25, 2016. The new standard is scheduled to take effect for financial periods starting after Dec. 15, 2018 for public companies and after Dec. 15, 2019 for private companies. For companies with calendar year ends that means 2019 for public companies and 2020 for private companies. Find resources and information below to help you prepare for the new rules.

Please note: Users are welcome to use and share the following documents. If you reproduce this material, please credit ELFA as follows: "This information is brought to you by COMPANY NAME and the Equipment Leasing and Finance Association."

New! Infographics: Other Tools: Bylined Articles:

Questions:

If you have questions about accessing any of the documents on this page, please contact Amy Vogt at avogt@elfaonline.org.



Also Consider:
  • Taming the Monster: A Roadmap to ASC 842 Compliance
    This guest white paper from Bloomberg Tax explains the risks, benefits and challenges of ASC 842 compliance and offers a five-step guide to help organizations meet deadlines, minimize risks, overcome hurdles and accelerate the implementation process.
  • Impact of Latest Tax and Accounting Changes in Equipment Procurement: What You Need to Know
    This guest article from Fleet Advantage is designed to help finance professionals and decision-makers within companies with private fleets and transportation companies better understand the changes of the Tax Reform and new FASB accounting standards and how they impact equipment acquisition, particularly of Class 8 truck assets.