Equipment Leasing and Finance Association - Equiping Business for Success

Lease Accounting

Information on financial accounting and reporting issues in the equipment finance space and their impact on the industry.
ELFA
ELFA members enjoy special access to and discounts on many of the following resources. Learn more.

Featured Content

The Financial Accounting Standards Board released a new lease accounting standard on February 25, 2016. Prepare for the new rules using the following resources.

LeaseAcctWhitepaperCover

Navigating the New Lease Accounting Standard

This white paper outlines what's in the standard and how to get ready.

Update

FASB proposes delay in accounting standards
FASB voted on July 17 to propose delaying the effective dates for both the leases and credit losses standards. Read more.

ELFA Submits Comment Letter
In January 2019 ELFA filed a formal Comment Letter with the FASB on the Proposed Accounting Standards Update, Leases (Topic 842): Codification Improvements for Lessors. Read the letter.

New Bylined Article

ELFA has released a new article, The Silver Lining of Lease Accounting: What Organizations Should Know About the New Standard. Share this educational resources with your end-user customers.

ELFA Submits Comment Letter
In September 2018 ELFA filed a formal Comment Letter with the FASB on proposed amendments to the new lease accounting standard.  The Proposed Accounting Standards Update, Leases (Topic 842):  Narrow-Scope Improvements for Lessors, responds to three post-issuance questions:  the accounting for sales, use and similar taxes; the accounting for other costs paid by a lessee that may benefit a lessor; and variable payments when contracts have lease and non-lease components. Read the letter.

EL&F Articles

Additional Articles
elfa foundation

Foundation donors receive benefits, including early access to many of the following resources. Learn more.

Articles

Submit Your Lease Accounting Questions

To help you prepare for the new lease accounting standard, ASC 842, ELFA’s Financial Accounting Committee has created a Lease Accounting Resource Group (LARG) comprised of key industry lease accounting experts. The goal of the LARG is to solicit or identify technical accounting questions and issues related to the implementation of ASC 842 and provide ELFA members with opinions and guidance to consider in your implementation. Learn more and submit your questions or concerns.

Lessee Tools

Access educational resources to share with your end-user customers on ELFA's Equipment Finance Advantage end-user website, including an FAQ document, tip sheets and more.

Learn more