What are the Lease Accounting Comparative Reporting Timelines?

By January 30, 2016Blog

Comparative Reporting Timelines for the New Lease Accounting Standards

Although the official deadline for the new lease accounting standards is 2019, you will have to provide three years of comparative reporting on income statements and two years on your balance sheets in financial disclosures. To provide this historical reporting you will need to have accurate and complete leasing data for all real estate and equipment assets dating back to 2017.

March 31 Fiscal Year

  • Comparative Balance Sheets – March 31, 2019 and March 31, 2020
  • Comparative Income Statements – March 31, 2018; March 31, 2019; and March 31, 2020
  • Implementation Deadline – March 31, 2020

June 30 Fiscal Year

  • Comparative Balance Sheets – June 30, 2019 and June 30, 2020
  • Comparative Income Statements – June 30, 2018; June 30, 2019; and June 30, 2020
  • Implementation Deadline – June 30, 2020

September 30 Fiscal Year

  • Comparative Balance Sheets – September 30, 2019 and September 30, 2020
  • Comparative Income Statements – September 30, 2018; September 30, 2019; and September 30, 2020
  • Implementation Deadline – September 30, 2020

December 31 Fiscal Year

  • Comparative Balance Sheets – December 31, 2018 and December 31, 2019
  • Comparative Income Statements – December 31, 2017; December 31, 2018; and December 31, 2019
  • Implementation Deadline – December 31, 2019