---
title: What is ASC 842 and why does it matter?
description: FASB’s ASC 842 is the new lease accounting standard affecting organizations with any size lease portfolio. The most notable difference with ASC 842 is the recording lease liabilities associated with o
---

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# What is ASC 842 and why does it matter?

FASB’s ASC 842 is the new lease accounting standard affecting organizations with any size lease portfolio. The most notable difference with ASC 842 is the recording lease liabilities associated with operating leases on the balance sheet. Learn more about [how to transition to the ASC 842 lease accounting standards here](https://www.occupier.com/blog/how-to-transition-to-the-asc-842-lease-accounting-standards/). 

 

 

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