Lease Accounting Rev Rec Handout.pdf


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5/30/2017

Leases - A Big Change
What if a lease is missed – say a storage space lease
• If missed now we would look at how the error effected
the disclosure (probably not an issue and no
restatement required).
• Future – what is the balance sheet effect? Is it material to:
• Total assets/liabilities
• Debt covenants
• Etc.
• A missing lease in the future could mean a restatement
– Get arms around all lease date
– Even embedded leases

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HELPING YOU GET THERE

Lease Accounting Changes
Matt Crane, CPA
Partner
mcrane@boulaygroup.com | 952.841.3051

8 THERE
HELPING YOU GET

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