The New Leasing Standard — Analysis and Application I (Portfolio 5125)

Description

Bloomberg Tax and Accounting Portfolio 5125,The New Leasing Standard — Analysis and Application I, is designed to be used in conjunction with Accounting Policy & Practice Portfolio 5126, The New Leasing Standard — Analysis and Application II. Together, these Portfolios provide a detailed analysis of the new leasing standard (Accounting Standards Codification Topic 842and IFRS 16). This portfolio discusses the history of the standard, the changes that have been made to the Codification, the scope and effective date of the standard, transition to the new rules, identifying a lease, separating lease and non-lease components, allocating consideration in the contract, lease term, lease payments and classification. The Portfolio provides a comparison to current U.S. GAAP, when relevant, and discussion of the FASB’s Basis for Conclusions.

Bloomberg Tax and Accounting Portfolio 5126, The New Leasing Standard — Analysis and Application II discusses lessee accounting, lessor accounting, lease modifications, leveraged leasing, sale and leasebacks, and build-to-suit transactions. The Portfolio also includes guidance on disclosure requirements and preparing to implement the new standard.

This Portfolio may be cited as Bloomberg Tax and Accounting Portfolio 5125, Sebik & Starczewski, The New Leasing Standard — Analysis and Application I(Accounting Policy and Practice Series).

Table of Contents

I. Summary of New Lease Accounting Rules
II. Scope & Effective Date
III. Transition
IV. Identifying a Lease
V. Separating Lease and Non-Lease Components
VI. Allocating Consideration in the Contract
VII. Lease Term and Lease Payments
VIII. Classification