On February 25, 2016, the FASB issued Accounting Standards Update (ASU) 2016-02, Leases. The new standard creates Topic 842, Leases, in the FASB Accounting Standards Codification (FASB ASC) and supersedes FASB ASC 840, Leases. Entities that hold equipment and real estate leases, in particular those with operating leases, will […]