The FASB's revised standard on leases, ASC 8 4 2 , was effective for public companies beginning

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The FASB's revised standard on leases, ASC

842,

was effective for public companies beginning

2018 .

One significant implication of this standard is that operating leases that were previously kept off the balance sheet are now required to be recorded on the balance sheet. Do you agree with the FASB's decision to move operating leases to the balance sheet? How does this change affect audit procedures?

Posted Date: May 18, 2024 10:05 AM

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The FASB's revised standard on leases, ASC 8 4 2 , was effective for public companies beginning

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