Defining Issues | March 2019
KPMG reports on targeted changes to lessor accounting and clarification of interim transition disclosures.
KPMG reports on ASU 2019-01. The FASB released ASU 2019-01, which makes targeted amendments to 1) reinstate certain fair value guidance from ASC 840 for some lessors, 2) revise how financial institution lessors should classify lessee payments in the statement of cash flows, and 3) clarify interim transition disclosure requirements for ASC 842.
ASU 2019-01
Proposed effective date: | Public business entities | All other entities |
Annual periods – Fiscal years beginning after | December 15, 2019 | December 15, 2019 |
Interim periods – In fiscal years beginning after | December 15, 2019 | December 15, 2020 |
Early adoption allowed? | Yes | Yes |
The ASU:
FASB issues ASU changing lessor accounting
Download PDFReceive the latest financial reporting and accounting updates with our newsletters and more delivered to your inbox.
Access our accounting research website for additional resources for your financial reporting needs.