# ASC 842

> US GAAP equivalent of IFRS 16 — on-balance-sheet lease recognition.

**Canonical URL:** https://classa.info/glossary/asc-842
**Page type:** glossary
**Last updated:** 2026-04-01T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- US GAAP equivalent of IFRS 16 — on-balance-sheet lease recognition.
- Effective 2019.

## Key facts
- **category**: Accounting
- **regionScope**: US

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Citation: Source: Class A Atlas (https://classa.info/glossary/asc-842), updated 2026-04-01T00:00:00.000Z.