The Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that improves discount rate guidance for lessees that are not public business entities—including private companies, not-for-profit organizations, and employee benefit plans. The amendments in the ASU should reduce the cost of implementing the lease standard (Topic 842) for those entities while retaining the expected benefits for users of financial statements. Read the rest of the story on FASB’s website.
