Manufacturing | Albin, Randall and Bennett

Lease Accounting for Manufacturing Companies

In 2016, the Financial Accounting Standards Board (FASB) issued new guidelines for the way businesses of all sizes and industry types handle lease accounting to increase transparency and disclosure of lease transactions. The new accounting standard update, ASU 2016-02, Leases (Topic 842), (ASU) affects any businesses that lease assets. As leasing is critical to success