Eide Bailly LLP

Jun 28, 2023 | eidebailly.com | Jim Donovan

Mar 30, 2023 | eidebailly.com | John Hansen

By John Hansen, CPA Many entities have anxiously awaited amendments to Topic 842 Leases (ASC 842) and challenges surrounding common control arrangements. In answer to these issues, FASB released Accounting Standards Update 2023-01 – Leases (Topic 842): Common Control Arrangements on March 27, 2023. What Were the Primary Issues Faced Under Existing Guidance?