The ASC 842 Lease Accounting Handbook provides guidance for transitioning to and maintaining compliance with ASC 842. It covers key definitions, classification tests, and calculations for lease liabilities and right-of-use assets, along with required disclosures. The handbook outlines practical steps for data gathering, system implementation, and process integration, emphasizing automation to reduce manual errors and audit risks. It addresses common challenges such as embedded leases, reassessments, and modifications, and highlights best practices for streamlining workflows, ensuring accuracy, and maintaining ongoing compliance with evolving accounting standards.

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