Lease accounting reset - Presentation and disclosure

PwC's accounting podcast

We kick off our latest accounting miniseries on lease accounting with an episode on the related presentation and disclosure requirements. We break down key considerations across the balance sheet, income statement, and statement of cash flows, including what interim and annual disclosures are required as well as the treatment of lease incentives, sublease income, and more.

In this episode, we discuss:

• 2:12 – Current versus noncurrent lease liabilities
• 5:37 – Presentation of lease incentives
• 11:40 – Income statement presentation of lease expense
• 16:29 – Classification of lease payments in the statement of cash flows
• 26:25 – Annual and interim lease disclosure requirements

For more information, check out our Leases guide and the leasing chapter of the Financial statement presentation guide.

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About our guests

Marc Jerusalem is a PwC National Office managing director specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications.

Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

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1. Lease accounting reset - Presentation and disclosure (00:00:00)

2. Current versus noncurrent lease liabilities (00:02:12)

3. Presentation of lease incentives (00:05:37)

4. Income statement presentation of lease expense (00:11:40)

5. Classification of lease payments in the statement of cash flows (00:16:29)

6. Annual and interim lease disclosure requirements (00:26:25)