Food, beverage, and agribusiness industries could face significant changes to lease reporting requirements.
In this webcast, we address the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) 842. We discuss new revisions, requirements for disclosing information on leasing arrangements, and the following key topics:
- Differences between ASC 842 and the previous generally accepted accounting principles, or GAAP
- Right-of-use assets, lease liability, and expense recognition
- Practical considerations for industry contracts, biological asset leases, and financial statement ratios and disclosures
- Potential impacts to debt covenants in current borrowing agreements