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FASB posted a staff Q&A document to its website Friday that is designed to clarify pandemic-related questions about lease accounting.

As a result of economic disruptions caused by the pandemic, many lessors will provide lease concessions to tenants. The Q&A states that for concessions related to the effects of the coronavirus pandemic, an entity will not have to analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract.

The entity can elect to apply or not apply the lease modification guidance in FASB Accounting Standards Codification Topic 842, Leases, or Topic 840, Leases, to those contracts, according to the Q&A.