Podcast overview
In this 30-minute podcast, specialists from KPMG’s Department of Professional Practice discuss the implications of COVID-19 on lease arrangements, including concessions being seen in practice and the FASB’s relief.
Applicability
- All companies that are lessees and/or lessors
Relevant dates
- Effective immediately
Podcast contents
- 01:20 – Overview of what’s happening to leases in the current economy, including changes in management plans and related processes and controls
- 05:00 – Rent concessions being seen in practice, and the FASB’s relief
- 09:20 – Navigating the approaches in the FASB’s relief for COVID-19 related rent concessions
- 16:20 – Other issues affecting leases, including idle property, lease short-payments without lessor agreement, and the implications of ongoing uncertainty
- 21:00 – Practical tips for CFOs and controllers, including scenario mapping and communication
- 22:50 – Other considerations for quarterly reporting, including the importance of good disclosure
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