Authority and currency
About this authority
- Publisher
- Financial Accounting Foundation
- Standing
- Primary authority
- Version
- ASU 2023-01
- Relevant parts
- Topic 842 common-control practical expedient and leasehold-improvement amendments
- Currency
- current · checked Aug 8, 2026
Common control does not erase lease accounting. The amendment supplies a bounded practical expedient for qualifying entities and a distinct useful-life and transfer model for associated leasehold improvements. Those facts remain a separate standards-clock branch rather than a default private-company shortcut.