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Overview
Retailers with leases subject to Accounting Standards Codification (ASC) 842, Leases, need to continue to consider the lease accounting implications of changes to their physical footprint (e.g., retail stores, fulfillment and distribution facilities) and the subsequent measurement of long-lived assets under ASC 360-10, Property, Plant, and Equipment − General. This publication includes discussions of lease modifications under ASC 842, abandonment and impairment of right-of-use assets and sections on lease incentives, leasehold improvements and sublease arrangements.
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