The lease accounting standards, explained
Ledgerage implements three lessee accounting models. Each guide covers how the standard measures the lease liability and right-of-use asset, how leases are classified and expensed, and what has to be disclosed — with the exact codification paragraph behind every point.
United States (US GAAP)
ASC 842 is the US GAAP leasing standard. It requires a lessee to recognise a right-of-use (ROU) asset and a lease liability on the balance sheet for virtually every …
Read the guide →IFRS (international)
IFRS 16 is the international leasing standard. Unlike US GAAP it uses a single lessee accounting model: almost every lease is recognised as a right-of-use asset and …
Read the guide →US state & local government
GASB 87 is the leasing standard for US state and local governments. Like IFRS 16 it uses a single model: a lessee recognises a lease liability and an intangible righ…
Read the guide →Compute any of them in seconds
Pick a standard in the free calculator and get the present value, right-of-use asset, lease liability, full amortization schedule and disclosures — every number traced back to the paragraph that produced it.