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Accounting for leases and changes in real estate due to COVID-19
- 0:56 - Rent concessions. We begin with a refresher on the relief provided by the FASB and cover some common lessee/lessor questions when applying the new guidance.
- 15:19 - Lease abandonment. As a result of the pandemic, many companies are reassessing their real estate footprint and reconsidering their needs for leased space going forward. We discuss what companies should be thinking about when it comes to subleases and abandonments.
- 25:29 - Partial terminations. Many companies are looking for ways to cut costs, including modifying but not completely terminating a lease. We explain the accounting for partial terminations.
- 28:01 - Lasting impacts. Companies will likely rethink how some provisions are drafted in future agreements. We discuss lease negotiations and the accounting going forward.



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