FASB’s latest guidance for lease accounting for lessors, as codified in ASC 842, looks nearly identical to the previous guidance, ASC 840. Lessors still have three categories of leases: operating leases, sales-type leases and financing leases. For sales-type leases and... Liz Farr, CPA
Liz spent 15 years in tax and accounting at small firms in New Mexico. Besides focusing on tax returns of all flavors, she worked on audits of governmental entities and not-for-profits, business valuations, and litigation support. Liz is a freelance writer specializing in content marketing for accountants and bookkeepers around the world.
