Lessor accounting under ASC 842 - Not necessarily business as usual

The new lease accounting requirements that take effect in 2019 for calendar-year public business entities and 2020 for other entities are a fundamental change for lessees accounting for lease arrangements. However, there are potentially significant changes for lessors that have received less attention since the issuance of the new standard. Like lessees, lessors also will need to identify all leases and re-evaluate them, finding that there are significant changes in the accounting for existing and new leases once the requirements take effect.