Focus on Lease Accounting: What Else You Need to Know

This RubinBrown Focus on Lease Accounting is the fourth in a series of articles on the new accounting guidance for leases, Accounting Standards Codification Topic 842, Leases (ASC 842). In this series, we will explore different aspects of the new standard. Please contact a member of your RubinBrown team for more information and ways that we may be able to help you.

FASB Proposes Improvements To Discount Rate Guidance For Lessees

The FASB has issued an Exposure Draft, requesting comment by July 16, 2021, related to Leases (Topic 842): Discount Rate for Lessees That Are Not Public Business Entities to provide private companies, not-for-profit entities and employee benefit plans more flexibility in how the discount rate would be determined.

GASB Releases Exposure Draft On Proposed Improvements For Accounting Changes And Error Corrections

GASB Releases Implementation Guide No. 2021-1

The GASB has issued Implementation Guide No. 2021-1, Implementation Guidance Update – 2021. The GASB periodically issues implementation guidance to assist practitioners in implementing GASB Statements and to answer frequently asked questions.