Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
FASAB’s New Rule Could Kill the Lease Scavenger Hunt
Join our 250K+ subscribers
Join our 250K+ subscribers
Subscribe05 MAY 2026 / FASB REPORTING
The Federal Accounting Standards Advisory Board (FASAB) has proposed the Embedded Leases Practical Expedient, a measure aimed at simplifying the process of managing embedded leases in contracts. The expedient allows certain contracts to be treated as non-leases which can help streamline workflows and reduce implementation costs until its transitional expiry in October 2026. This move, which could potentially save both time and resources, was brought on by growing concerns that the effort needed to proxy, manage and execute embedded leases often outweighed their benefit due to their inconsequential nature.
A federal contract walks into your inbox. Looks harmless. A service agreement, maybe IT support or transportation. Then someone squints at a clause and says, “Hold on… is that a lease?” Suddenly, you’re knee-deep in terms, controls, and asset rights, tryi...
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
Subscribe now for $199 and get unlimited access to MYCPE ONE, from CPE credits to insights Magazine
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
You’ve reached the 3 free-content piece limit. Unlock unlimited access to all News & CPE resources.
Subscribe Today.
Already have an account?
Sign In
-(2)-1778848026.webp)
