We previously wrote that FASB Accounting Standards Codification (FASB ASC) 842, Leases, as amended by Accounting Standards Update (ASU) 2023-01, Leases (Topic 842): Common Control Arrangements, has created a new landscape for related party leases under common control. The new landscape provides substantial flexibility in how related party leases under common control are recognized in financial statements under U.S. generally accepted accounting principles (U.S. GAAP). This flexibility includes the potential to use the written terms and conditions practical expedient along
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Related Party Leases: Calls for More Disclosure and Structure
Sep 13, 2024 · 1 min read
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Download the CPEA report - September 2024 - Related Party Leases Calls for More Disclosure & Structure
File name: cpea-report-september-2024-related-party-leases-calls-for-more-disclosure.pdf
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