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Lease Accounting

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A building during the night with text overlaid saying lease accounting

Lease Accounting

We work closely with both lessees and lessors to evaluate how your leasing arrangements and balance sheets will change under the new leasing standard.

A building during the night with text overlaid saying lease accounting

Lease Accounting

We work closely with both lessees and lessors to evaluate how your leasing arrangements and balance sheets will change under the new leasing standard.

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The lease accounting model is changing as a result of FASB Accounting Standards Update 2016-02, Leases (Topic 842), and the result could mean significant changes for your operations. Starting in 2019 (2020 for private companies), lessees will be required to recognize lease assets and liabilities on their balance sheet, which could affect everything from internal controls to debt covenants. Lessors may need to modify existing leasing arrangements and financial reporting processes. Our professionals make adopting the new leasing standard easier through our understanding of the accounting changes and of your unique circumstances. Knowing you and the changes in the lease accounting model inform our step-by-step approach to implementation, and provide you with the guidance and illustrative examples you can rely on to meet your new requirements.

Be in the Know About Leasing Changes

Our Understanding the Leasing Standard whitepaper takes a deep dive into what's changed from existing U.S. GAAP.

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Leasing Whitepaper Thumbnail

The deep dive we have taken into the new leasing standard, along with our knowledge of your unique situation,
helps make implementing leasing changes easier.

Insights

Eight Considerations for Your Leasing Standard Transition

As the effective date nears, entities will need to be prepared for the changes to lease accounting. The following are some elements to consider when preparing for the transition to ASC Topic 842.

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Webinar: How Will New Revenue Recognition and Leasing Standards Affect the Real Estate Sector?

This webinar will cover the specific considerations for the adoption of revenue recognition and lease accounting standards related to the real estate industry and the steps you should be taking now to ensure a smooth transition.

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Four Things Private Companies Can Do in 2018 to Make Adopting the Leasing Standard Easier

The transition to the new leasing standard promises to be time-consuming, and it could have an impact on financial statements. Taking action early — before the effective date — can help private companies simplify their adoption process and potentially avoid compliance issues with loan covenants.

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  • Five Things Public Companies Can Do in 2018 to Make Adopting the Leasing Standard Easier

     The time to adopt the new leasing standard is almost here for public companies. Changes introduced in ASC Topic 842 take effect for public companies for fiscal years beginning after Dec. 15, 2018. All leases will need to be evaluated in light of the new requirements and internal processes and reporting may need updating.

  • How Private Equity and Venture Capital Can Prepare for the Tax Impact of New Accounting Changes

     Private equity and venture capital firms and their portfolio companies need to be aware of the potential tax impact, as changes to financial reporting practices could create differences between book and tax accounting.

  • Three Improvements Proposed to Lessor Accounting

     The FASB recently issued proposed guidance that would simplify three elements of the new leasing standard that will affect lessor accounting.

  • Webinar: Changes to Lessor Accounting under New Leasing Standard

     Lease accounting underwent a major revision with the issuance of ASU 2016-02, Leases (Topic 842). This course will specifically discuss the changes in lessor accounting.

  • Public Companies Catch a Break with Leasing Standard Update

     Changes to the adoption requirements will be particularly important for SEC filers as they prepare their third and fourth quarter filings.

  • Webinar: Adoption of New Leasing Standards

     This course discusses the changes and the challenges in implementation of the new leasing standard as well as the frequently asked questions of professionals concerning the changes.

  • Relief Coming for Leasing Standard Implementation

     Changes are coming that may make implementing the new leasing standard easier.

  • Do You Have a Debt Covenant Violation in Your Future?

     Two major accounting updates whose implementation are on the horizon and may have significant impacts to your balance sheet and bottom line relate to revenue recognition and leasing.

  • Your Leasing Questions Answered

     As entities work through their transition to the new guidance, a number of questions may come up. The following may assist with implementation.

  • Understanding the Leasing Standard: Five Considerations for Adoption

     Understanding the Leasing Standard: Five Considerations for Adoption takes a deep dive into what's changed from existing U.S. GAAP.

  • Understanding the Leasing Standard: Part 5 - Transitioning to the New Standard

     How leases are transitioned to the guidance under FASB ASU 2016-02, Leases (Topic 842) will depend on the types of leases in place at the date of adoption and whether electing available practical expedients makes sense for the organization.

  • Understanding the Leasing Standard: Part 4 - Sale and Leaseback and Other Types of Lease Transactions

     In addition to modifying the lessee and lessor accounting models, the new standard also introduces changes to the accounting model for sale-leaseback transactions, as well as other leasing concepts.

  • Understanding the Leasing Standard: Part 3 - Lessor Accounting

     In Part 3 of our Understanding the Leasing Standard serial, lessor accounting changes will be explored in more detail.

  • Four Repercussions of the New Leasing Standard

     Lessees in particular will need updating on several aspects of lease accounting. Implementing the standard may also affect debt covenant compliance, evaluation of leasing alternatives, accounting and finance departments and lease negotiations.

  • Understanding the Leasing Standard: Part 2 - Lessee Accounting

     Part 2 of our leasing serial takes a look into the changes to lessee accounting.

  • Understanding the Leasing Standard: Part 1 - Overview of the Key Concepts

     In part one, we will provide an overview of the major changes, a summary of lease classifications, definitions and recommendations for what your organization can do now to prepare for the new standard.

  • FASB Unveils New Leasing Standard

     Lease accounting received an accounting overhaul with the recent release of the FASB's Accounting Standards Update 2016-02 Leases (Topic 842).

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    Key Contact

    Hal Hunt

     hhunt@cbiz.com (816) 945-5610

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    *MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm that provides audit, review and other attest services. MHM works in an alternative practice structure with CBIZ, a leading business consulting, tax, and advisory services provider. MHM provides all attest services and, with limited exception, CBIZ provides all non-attest services.

    MHM. Knowing You.

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    About Us

    MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm dedicated to learning about your organization and helping you meet your requirements and make informed decisions. We use our global resources and 60-plus years of experience serving growth-oriented public, private and not-for-profit organizations, to bring you best practices and sound guidance.

    A member of Kreston International |
    A global network of accounting firms

    Client Portal | Careers | Terms of Use | Privacy Policy

    Copyright 2018 Mayer Hoffman McCann P.C. All rights reserved.

    About Us

    MHM (Mayer Hoffman McCann P.C.) is an independent CPA firm dedicated to learning about your organization and helping you meet your requirements and make informed decisions. We use our global resources and 60-plus years of experience serving growth-oriented public, private and not-for-profit organizations, to bring you best practices and sound guidance.

    MHM. Knowing You.

    Contact Us

    A member of Kreston International |
    A global network of accounting firms

    Client Portal | Careers | Terms of Use | Privacy Policy

    Copyright 2018 Mayer Hoffman McCann P.C. All rights reserved.