Technical Line - Year-end accounting and disclosure reminders for reporting under the new leases standard

21 Nov 2019 PDF
Subject AccountingLink
Topics Leases
Publications Technical Line


As they prepare for year-end reporting, entities that adopted the new leases standard should carefully review their accounting and disclosures in areas that require significant judgment, estimates and changes in practice. These areas include determining whether a contract is a lease or contains a lease, determining the discount rate to use for new or modified leases and identifying lease modifications and reassessment events. Entities should be mindful of changes to their processes and controls over these areas, especially if they implemented a new IT system or modified their IT system during the year. Our Technical Line provides key reminders about these topics and other challenging aspects of the standard.

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