On November 11, 2015, the FASB set the effective date for the proposed new leasing standard; it is effective in 2019 for public companies and 2020 for private companies. Early adoption is permitted. The final standard is to be published in early 2016.
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About LeaseQuery: LeaseQuery is lease accounting software that helps companies manage their leases. Rather than relying on excel spreadsheets, our clients use LeaseQuery to get alerts for critical dates (renewals, etc), calculate the straight-line amortization of rent and TI allowances per GAAP, provide the required monthly journal entries (for both capital and operating leases) and provide the commitment disclosure reports required in the notes and the MD&A. Visit us at www.LeaseQuery.com