How to Account for a Lease Termination including Partial Lease Terminations under ASC 842

Lease termination options can include notice requirements, termination penalties, and adjustments to previously established rental terms, among others. Understand the proper accounting treatment for lease terminations under ASC 842, from derecognizing balance sheet items to calculating the P&L impact. The accounting for terminations and partial terminations is the most complex area when calculating the values…