On-Demand Web Seminar
Refining Lease Accounting – Common Policy Changes after ASC 842 Adoption

June 24, 2020 | 60 Minutes
Hosted by Accounting Today

With the adoption of ASC 842 comes the opportunity to elect several practical expedients. The new leases standard provides lessees with a practical expedient, by class of underlying asset, to not separate lease and non-lease components. Many companies have made elections only to later discover they were not the best choices.

Hear what ASC 842-compliant companies say they now wish they would have known before making elections, hear how their choices affected them, and what they had to do to change their elections.

In "Refining Lease Accounting – Common Changes after ASC 842 Adoption," learn about:

  • The pros and cons of separating lease components from non-lease components.
  • Software considerations regarding accounting for lease and non-lease components.
  • The actions needed to reverse a policy election.
  • Other events that take place after ASC 842 adoption and their effect on lease classification.
  • The time to change lease accounting variables like lease term, payments, and discount rate.
Matt Waters Ashok Parmar
Matt Waters
Director of Lease Accounting
Ashok Parmar
Senior Manager
Deloitte & Touche LLP
Danielle Lee
Managing Editor
Accounting Today

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