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Bloomberg BNA has released two accounting portfolios to help accounting professionals understand the new leasing standard. The portfolios provide-depth analysis and practical guidance to assist with the assessment and implementation phases of the new standard.

The Portfolios are Accounting Standards Codification (ASC) 842 and International Financial Reporting Standard (IFRS) 16. The New Leasing Standard – Analysis and Application, Parts I and II, authored by Joseph P. Sebik of Siemens Corporation and Lisa Starczewski of Buchannan Ingersoll & Rooney.

This two-part series provides practical insights on transitioning to the new standard, including allocation and classification guidance. Topics covered include lease modifications, build-to-suit transactions, guidance on disclosure requirements, and tips on implementing the new standard.

Lisa Fitzpatrick, VP and general manager of Bloomberg BNA Tax and Accounting, said in a prepared statement, "The new leasing standard will affect nearly every business in the U.S These important Accounting Portfolios will greatly help accounting professionals, who are tasked with evaluating their financials for existing leases and developing strategies for complying with the new standard."

The portfolios are part of BNA's Financial Accounting Resource Center and a free trial can be accessed on that site.

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