How Lease Accounting Software Improves ASC 842 Disclosure Requirement

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The new leasing standard ASC 842 issued by the Financial Accounting Standards Board – FASB is one of the most significant changes in accounting in recent times. It directs to record finance and operating leases on the balance sheet. The right-of-use (ROU) asset and lease liability of all leases having terms for more than 12 months needs to be recognized on the balance sheet. The new standards have to be used by both lessees and lessors for preparing financial statements.

https://www.yardicorporateleasemanager.com/blog/how-lease-accounting-software-improves-asc-842-disclosure-requirement/

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