New lease Accounting Standards.

• Position: FASB

As the Financial Accounting Standards Board continues to field inquiries about Its new lease accounting standard, it has found that the questions turn on three key trench:

1. Consider if a contract has been accounted for as a lease under existing accounting guidance.

2. Lessor accounting isn't significantly different

3. Lessees will now recognize operating leases on the balance sheet.

The FASB issued its long-awaited lease accounting standard in February, which will require companies to recognize assets and liabilities from operating leases on their balance sheets. Public: companies will be required to...