New Technical Questions and Answers (TQAs) from the AICPA offer background and nonauthoritative guidance on lease accounting for continuing care retirement community Type A life care contracts.
The TQAs discuss how to determine whether an embedded lease exists under FASB ASC Topic 842, identify the lease and nonlease components, determine the lease payments and more.
The AICPA also issued TQAs to address nongovernmental health care entities’ accounting for coronavirus pandemic-related governmental assistance. Learn more.