Leases: Hot Topics

Hot Topic: ASC 842 - Year-end lease reporting reminders (December 20, 2023)

Key presentation and disclosure reminders for preparing financial statements under ASC 842.

Hot Topic: Leases - Topic 842 transition complexities from recent economic conditions

This Hot Topic compiles specific Questions on select Topic 842 implementation issues from KPMG Handbook, Leases, into one concise document to assist entities in their initial application of Topic 842.

Hot Topic: Leases - Enhanced focus on lessee discount rates

Key considerations for public and private entity lessees when determining the discount rates for leases.

Hot Topic: ASC 842 - Understanding the short-term lease exemption

Key considerations for lessees when determining whether to elect – and how to apply – the short-term lease exemption.

Fair Market Rent Adjustments

Fair market rent is an index; therefore, lease payments based on fair market rent are variable lease payments that depend on an index or rate.

Hot Topic: Coronavirus - FASB staff guidance on accounting for COVID-19 (April 13, 2020 [Updated May 28, 2020])

Hot Topic: Coronavirus - FASB staff guidance on accounting for COVID-19 (April 13, 2020 [Updated May 28, 2020]) Updated: The FASB staff has issued guidance that permits a simplified approach to accounting for COVID-19 related rent concessions – for lessees and lessors. KPMG answers questions about the application of this optional staff guidance

Coronavirus - Lease accounting impacts of COVID-19

The economic and financial markets effects of the COVID-19 pandemic may have a number of impacts on companies’ lease accounting under ASC 842. This article follows our recent Hot Topic on accounting for rent concessions resulting from the COVID-19 outbreak.

Hot Topic: Coronavirus and civil unrest impact on lease accounting

Applying ASC 842 to rent concessions arising from coronavirus and Hong Kong civil unrest related property closures.

Hot Topic: ASC 842 - Lessor accounting for operating lease receivables (July 22, 2019)