Black Owl Systems

Lessee Lease Accounting

Lessee Accounting Requirements

Standards - Black Owl supports Financial Accounting Standards Board (FASB) ASC 842, International Accounting Standards Board (IASB) IFRS 16, and Canadian Accounting Standards for Private Enterprises (ASPE) Section 3065

Financial Accounting Standards Board

FASB

Lease Types (ASC 842)

  • Low Value
  • Finance Lease
  • Operating Lease
  • Non Lease Contracts

International Accounting Standards Board

IASB

Lease Types (IFRS 16)

  • Standard
  • Low Value
  • Short Term
  • Non Lease Contracts

Canadian Accounting Standards for Private Enterprises

ASPE

Lease Types (ASPE 3065)

  • Capital
  • Operating