Embark’s Insight on ASC 842 and Operating vs. Capital Leases
A Lessor’s Quick Guide to the New Lease Standard ASC 842
With the possible exception of troglodytes and nomadic tribes roaming the frozen tundra of Tunguska, most people – or at least those of the accounting ilk – are somewhat familiar with the significant changes to leasing standards being brought about by ASC 842. Although it would be a stretch to classify such changes as earth-shattering, they are certainly substantial enough to stand up straight and take notice.
And while your financial comrades here at Embark welcome you to search the vast digital wasteland for any number of highly informative guidelines that will no doubt read like a long-lost, alarmingly voluminous Dostoevsky tome, our Lessor's Quick Guide to ASC 842 Adoption should put a bounce in the step of any lessor seeking information without much time to spare.
Chock-full of insight, timelines, and assorted nuggets of extremely valuable information, our guide is exactly what lessors need to better understand the changing standards created by ASC 842 but, unlike most of the other guides you might find, you won't need a nap and buckets of high-octane coffee to get through it. You're welcome.
Vital Information for Lessors With Purpose and Context
Although our guide certainly doesn't skimp on much-needed information for lessors, Embark understands that such information doesn't exist in a vacuum and only makes sense when placed in proper context. For that reason – and also because we care – our Lessor's Quick Guide to ASC 842 Adoption also includes a handy Comparison Chart that not only itemizes such items as classification changes, practical expedients, and balance sheet changes for lessors, but also highlights the differences between the old and new standards to make it far more convenient for lessors to better understand the impact such changes will entail.
Change, although inevitable, doesn’t have to be scary. If you’re a lessor that has been losing sleep over the changes to leasing standards from ASC 842, spend a few minutes with Embark’s Lessor’s Quick Guide to ASC 842 Adoption and put that worried mind at ease. As a matter of fact, even if you aren’t especially worried about the changes but want to make sure you have a proper handle on everything, give our guide a whirl. Your colleagues at Embark promise you, our lessor friends, that it will be time well spent.