What is ASC 840?
The prior lease-accounting standard, under which most operating leases were disclosed in the footnotes rather than recognized on the balance sheet, and which used explicit 75% and 90% bright-line tests.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.