Thought Leadership

Lease Accounting Changes

​Presentation Replay: "Impacts of Lease Accounting Changes"

Presented by Joe Guage, CFO of First American Manufacturing Finance

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Joe Guage

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) on lease accounting. This ASU affects all companies that lease assets and can significantly change the way manufacturers account for leasing arrangements. The new guidance is intended to increase transparency in lease accounting by requiring organizations to report any long-term lease liability on the balance sheet.

In this presentation, attendees learn the importance of the new two-lease model, financial reporting changes, impacts on covenants, and the timing and implementation of the new updates.  Click here to learn more about the lease accounting standards.

What You Will Learn:

  • What the new standard is, why was it issued, and the new two-lease model
  • Changes to financial reporting and the impact on financial statements
  • Timing of implementation, effective dates and transition considerations
  • Other considerations with bank covenants, systems and processes


Joe Guage, CPA
Chief Financial Officer
First American Manufacturing Finance
Fairport, N.Y.

John Knechtges
Vice President
First American Manufactruing Finance
Fairport, N.Y.