Accounting for Leases: Scope of ASC 842

October 2021

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According to the FASB, the scope of ASC 842 applies to leases of property, plant or equipment. The first in our series, Accounting for Leases Under ASC 842, this insight provides details about what falls within the scope of this standard — and where it does not apply.

What’s inside:

  • Examples for what is within the scope of ASC 842.
  • List of leased assets to which ASC 842 does not apply.
  • Specific considerations for land easements.
  • Interaction with other standards.