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.
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COVID-19 Resources

Given the severity of the broad COVID-19 impacts on the economy, industries and individual businesses, the major accounting firms have been publishing guidance on some of the accounting and reporting implications that companies need to consider in 2020. Read 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.


Time Is On Your Side: Making the Most of the Delay in Lease Accounting Changes

The one-year delay means implementation will begin after Dec. 15, 2020.

Navigating the New Lease Accounting Standard

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


FASB delays implementation of accounting standards for some companies - The Financial Accounting Standards Board voted on Oct. 16 to extend the implementation deadline for several accounting standards, giving many U.S. companies additional time to prepare. The effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses (known as CECL), and hedging. Read more.

INSIGHT: Should I Lease or Buy? New Tax and Accounting Rules Add Complexity -
In this Bloomberg Tax article, ELFA member Bill Bosco analyzes the reasons companies lease and demonstrates how choosing the right lease product and structure can result in improved financial results. Read more.

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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.

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