ASC 842 Lease Accounting for Private Companies: A Practical Guide

ASC 842 lease accounting for private companies has been mandatory US GAAP since fiscal years beginning after December 15, 2021, with no size-based exemption. Lessees recognize a right-of-use asset and a lease liability for essentially every lease longer than 12 months, and nonpublic entities can elect a risk-free discount rate by asset class. Indinero, in continuous operations since 2009, builds those schedules inside the monthly close, and pricing starts at $750/mo.