ASC 842: Lease/non-lease practical expedient – reporting consequences

FASB ASC 842-10-15-37 provides a practical expedient to combine lease and non-lease components and treat the combined component as a lease component (practical expedient) which may be elected by underlying class of assets. The FASB provided the practical expedient to relieve cost and administrative burden of allocating consideration based on observable standalone selling prices to separate lease and nonlease components which may be of significant benefit to some lessees. The practical expedient should prove to be a significant benefit to