Leasing is widely used to address a variety of business needs, from managing changing asset requirements to long-term asset financing. PwC's inaugural edition of our accounting and financial reporting guide, Leases, is a comprehensive resource for lessees and lessors to account for leases under newly issued US GAAP guidance codified in ASC 842, Leases. Calendar year-end public business entities will need to adopt the new leases standard on January 1, 2019.
This guide addresses:

• Which arrangements are within the scope of the new leases guidance
• How lessees and lessors should classify and account for leases
• When a lessee or lessor should reassess its lease classification
• How lessees and lessors should account for modifications to a lease
• Unique leasing transactions, including sale leasebacks, and leveraged leases
• How leases should be presented in a company’s financial statements
• The effective date and transition of the new guidance