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Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Federal Tax Reform: Opportunity Zones

Community Revitalization by Rewarding Private Investment

Section 199A Deduction for Pass-Through Entities

A Deduction of Up to 20% of Qualified Business Income

THIncIT

Leveraging Technologies to Improve 
Efficiency

How Can We Guide You?

Cherry Bekaert

Codification Improvements to FASB Leases Standard Proposed

The Financial Accounting Standards Board has announced proposed amendments to its leases standard concerning possible lessor implementation issues related to Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). The proposed changes would align the FASB’s guidance for fair value of the underlying asset by lessors not considered manufacturers or dealers under Topic 842, with existing guidance.

Thus, the fair value of the underlying asset at the start of the lease is its cost, and it would incorporate any applicable volume or trade discounts. If significant time has lapsed since the acquisition of the underlying asset and when the lease starts, however, entities would have to apply the fair value definition used in Topic 820, Fair Value Measurement.

Comments on Proposed ASU No. 2018-310, Leases (Topic 842)-Codification Improvements for Lessors, are due Tuesday, January 15.