Final amendments change and clarify the risk-free discount rate practical expedient for private entity lessees.
ASC 842, Leases
Effective date of proposed amendments | Entities that adopted ASC 842 before final ASU issued | Entities that did not adopt ASC 842 before final ASU issued |
---|---|---|
Annual periods – Fiscal years beginning after |
December 15, 2021 |
Adopt when the entity adopts ASC 842 |
Interim periods – In fiscal years beginning after |
December 15, 2022 |
|
Early adoption allowed? |
Yes, as of beginning of fiscal year |
The final amendments:
Receive timely updates on accounting and financial reporting topics from KPMG.
Receive timely updates on accounting and financial reporting topics from KPMG.
Use our Accounting Research Online for financial reporting resources.
Use our Accounting Research Online for financial reporting resources.