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Entries by Amanda Horvath, Ron Smith

FASB Releases ASU No. 2016-02, Leases (Topic 842)

Posted 3:43 PM by
On Feb. 25, 2016, the Financial Accounting Standards Board (FASB) released Accounting Standards Update No. 2016-02, Leases (Topic 842) (the Update). Previous lease accounting guidance has long been criticized for not addressing the needs of financial statement users and FASB has spent several years on this project to address the concerns of users.
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