Lease Accounting Rev Rec Handout.pdf


Preview of PDF document lease-accounting-rev-rec-handout.pdf

Page 1 23437

Text preview


5/30/2017

Today’s Agenda
• Opening remarks on the new revenue and lease
standards - Bob Hahn
• New lease accounting standard (ASU 2016-02) –
expect a big change – Matt Crane
• Revenue recognition disclosure related to new ASU
(2014-09) – Tara Schini

1

HELPING YOU GET THERE

Are You Ready for the New Rev Rec
• Revenue Recognition Standard (ASU 2014-09)
– Effective dates:
• Public – for periods beginning after December 15, 2017
(calendar 2018)
• Non-Public – for periods beginning after December 15, 2018
(calendar 2019)
– Transition (free choice election):
• Full retrospective or
• Modified retrospective Transition (free choice election):
• The lease standard is one year later

2

HELPING YOU GET THERE

1