Construction Lease Modifications
A lease modification is any change to a contract’s terms and conditions that results in a change in a lease’s scope or consideration. Accounting for lease modifications is complicated. Such modifications generally require the lease liability to be remeasured using a discount rate determined at the modification’s effective date.
This guide offers insights to understanding modifications. To learn more, download this Construction Issue Sheet.
Author:
![Mark Barnett, Jr.](https://www.adamsbrowncpa.com/wp-content/uploads/2022/05/Mark-Barnett-Jr.png)