[x-post from /r/accounting] - FASB finally releases lease accounting standard
[{"id": "d0eqw91", "text": "X-Post referenced from /r/accounting by /u/actgfincs  \n[FASB Releases Lease Accounting Standard](https://www.reddit.com/r/Accounting/comments/47m7ua/fasb_releases_lease_accounting_standard/)\n*****  \n  \n^^I ^^am ^^a ^^bot ^^made ^^for ^^your ^^convenience ^^\\(Especially ^^for ^^mobile ^^users).  \n^^[Contact](https://www.reddit.com/message/compose/?to=OriginalPostSearcher) ^^| ^^[Code](https://github.com/papernotes/Reddit-OriginalPostSearcher) ^^| ^^[FAQ](https://github.com/papernotes/Reddit-OriginalPostSearcher#faq)", "replies": [], "depth": 1}, {"id": "d0er13o", "text": "&gt; The accounting standards update on leases will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2018. For all other organizations, the ASU on leases will take effect for fiscal years beginning after Dec. 15, 2019, and for interim periods within fiscal years beginning after Dec. 15, 2020. Early application will be permitted for all organizations  \n\nI think most large organizations are ready for this, but it might be a headache for the small guys who haven't been paying attention. ", "replies": [], "depth": 1}, {"id": "d0eseiw", "text": "Note: this does not really affect landlords. It affects our tenants.", "replies": [{"id": "d0etexb", "text": "good point, it affects how lessees report their obligations.", "replies": [], "depth": 2}], "depth": 1}]