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A guide to lease accounting

GUIDE | December 18, 2023

Authored by RSM US LLP


A guide to lease accounting under ASC 842 has been updated primarily to incorporate the accounting for leases by lessors, which was previously included in RSM’s Lessor accounting under ASC 842 white paper. The updated publication is now one comprehensive lease accounting guide for lessees and lessors. Additionally, the updated guide to lease accounting encompasses guidance from the following Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB):

  • ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 (see section 7.2.5.5 of the guide)
  • ASU 2023-01, Leases (Topic 842): Common Control Arrangements (see sections 3.1.1 and 10.3.4 of the guide)
  • ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which adds to FASB Accounting Standards Codification (ASC) Topic 326-20, Financial Instruments – Credit Losses – Measured at Amortized Costs (see sections 7.5, 7A.2.4 and 7A.2.7 of the guide)

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    • Source: RSM US LLP.
    Reprinted with permission from RSM US LLP.
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