The New Lease Standard ASC 842, Leases – Adoption Recommendations

A new lease accounting standard (ASC 842) became effective for calendar year-end privately-held businesses as of January 1, 2022. Adoption of the standard can have a significant impact on financial statements, accounting policies and procedures, and internal controls.

This report covers lessons learned from public companies adoption of the standard, and provides adoption recommendations for private companies.

For additional information relating to this publication contact your BNN advisor.

Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.

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