The Impact of ASC 842 – The New Lease Standard Is Here
Construction Business Owner
JUNE 1, 2022
Going forward there will be a long-term asset offset by a current liability and a long-term liability. Main Image. Section In the Office. ASC 842 keeps the same two-model lease classification but requires most off-balance-sheet leases, regardless of classification type, to be recorded on the balance sheet. Sponsored by.
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