# ASC 840-958: Leases — Not-for-Profit Entities Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/840/958/) Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T01:54:34.340Z to 2026-09-10T01:54:46.899Z Record version: sha256:2043a96ee97303e3a90c704f4547aa42d03de8984333f7189f86eaf2d7f21e33 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 840-958: Leases — Not-for-Profit Entities ### Machine-generated study aids ```json { "summary": "ASC 840-958 was the not-for-profit-specific guidance within the legacy leases topic (ASC 840), addressing how NFP entities applied lease accounting. Every remaining paragraph in this subtopic (05-1, 15-1, and 55-1 through 55-4) has been superseded by Accounting Standards Update No. 2016-02, so the subtopic contains no operative guidance. NFP lessees and lessors now follow ASC 842, including its NFP-specific provisions.", "key_points": [ "All content of this subtopic—overview (840-958-05-1), scope (840-958-15-1), and implementation guidance (840-958-55-1 through 55-4)—was superseded by Accounting Standards Update No. 2016-02.", "Because no paragraphs remain in force, ASC 840-958 imposes no current recognition, measurement, presentation, or disclosure requirements.", "ASU 2016-02 replaced ASC 840 with ASC 842, which governs lease accounting for not-for-profit entities going forward.", "The subtopic is retained in the Codification only as a shell showing superseded paragraph numbers, useful for tracing historical guidance and comparative-period reporting under legacy GAAP." ], "categories": [ "Leases", "Not-for-profit", "Transition and effective dates" ], "audience_level": "introductory", "student_note": "Don't cite ASC 840-958 as live authority—ASU 2016-02 superseded all of it; NFP lease questions are answered under ASC 842. The common mistake is assuming an empty Codification subtopic still contains special NFP lease rules.", "related_topics": [ "842", "840", "958", "842-20", "842-30" ], "key_concepts": [ "superseded guidance", "not-for-profit entities", "lease accounting", "legacy leases model", "transition to asc 842", "codification shell subtopic" ] } ``` Source downloaded (UTC): 2026-09-10T01:54:34.340Z to 2026-09-10T01:54:34.340Z Record version: sha256:6e019f8634783715eea6c46eefd2d8c89e6113f393a4045159da7ac556433154 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 840-958-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/840/958/#00-status) SEC content: no ##### [840-958-00-1](https://asc.understandingaccounting.org/asc/840/958/#840-958-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:34.340Z to 2026-09-10T01:54:34.340Z Record version: sha256:21211b8916f7820d6b9235b9588c5cb4e528c4b4a517d7e829833c7ac2bfd3c9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.

Paragraph	Action	Accounting Standards Update	Date

Bargain Purchase Option	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
Bargain Renewal Option	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
Indirectly Related to the Leased Property	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
Lease Term	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
Noncancelable Lease Term	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
Penalty	Superseded	Accounting Standards Update No. 2016-02	02/25/2016

958-840-05-1	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
958-840-15-1	Superseded	Accounting Standards Update No. 2016-02	02/25/2016
958-840-55-1 through 55-4	Superseded	Accounting Standards Update No. 2016-02	02/25/2016

Source downloaded (UTC): 2026-09-10T01:54:37.993Z to 2026-09-10T01:54:37.993Z Record version: sha256:7bab7ffad5f5085f4f4f1f7e517e367035e844e1d7b4ca8095f99bb9b3e0570f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 840-958-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/840/958/#05-overview-and-background) SEC content: no ##### [840-958-05-1](https://asc.understandingaccounting.org/asc/840/958/#840-958-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:37.993Z to 2026-09-10T01:54:37.993Z Record version: sha256:f18abaf4167994a6315de32f5aacd0db0ec4957b9c7a7b250c0e8521a828c4c1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-02](https://asc.understandingaccounting.org/updates/asu-2016-02/) Source downloaded (UTC): 2026-09-10T01:54:41.215Z to 2026-09-10T01:54:41.215Z Record version: sha256:b1d44703ff00cce9e311b8d2fa1a86414a1ea2f87fac1938da1c169b99f54243 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 840-958-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/840/958/#15-scope-and-scope-exceptions) SEC content: no ##### [840-958-15-1](https://asc.understandingaccounting.org/asc/840/958/#840-958-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:41.215Z to 2026-09-10T01:54:41.215Z Record version: sha256:7ba5d3e3af28de097dcf7e3deb38d071c60571d9ab5be0ab0b0fabd49f3a4d52 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-02](https://asc.understandingaccounting.org/updates/asu-2016-02/) Source downloaded (UTC): 2026-09-10T01:54:46.899Z to 2026-09-10T01:54:46.899Z Record version: sha256:32082e57f5b6ed01b114d87eabad7cd3191d3816e65bca95b698751e2deadac4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 840-958-55: 55 Implementation Guidance and Illustrations [Read section](https://asc.understandingaccounting.org/asc/840/958/#55-implementation-guidance-and-illustrations) SEC content: no ##### [840-958-55-1](https://asc.understandingaccounting.org/asc/840/958/#840-958-55-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:46.899Z to 2026-09-10T01:54:46.899Z Record version: sha256:53bd632b403279e631c6d8f0bd4ac1b8307575c4b9af7a237ca937be8465c33b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-02](https://asc.understandingaccounting.org/updates/asu-2016-02/) ##### [840-958-55-2](https://asc.understandingaccounting.org/asc/840/958/#840-958-55-2) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:46.899Z to 2026-09-10T01:54:46.899Z Record version: sha256:2ed6d3e8c16d1ebe1a3b106d3e673e39b1b04982846ecbf17771bbc057fa2d19 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-02](https://asc.understandingaccounting.org/updates/asu-2016-02/) ##### [840-958-55-3](https://asc.understandingaccounting.org/asc/840/958/#840-958-55-3) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:46.899Z to 2026-09-10T01:54:46.899Z Record version: sha256:ccd5d5fdb703a57354ebd9910736608d0c5fac38fc6c8ad9f5b5e2ee535484fd Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-02](https://asc.understandingaccounting.org/updates/asu-2016-02/) ##### [840-958-55-4](https://asc.understandingaccounting.org/asc/840/958/#840-958-55-4) Pending content: no Source downloaded (UTC): 2026-09-10T01:54:46.899Z to 2026-09-10T01:54:46.899Z Record version: sha256:a1357994a64c33f85b52148915d8dd1757c3412e0146bab4927595662dcbe3bd Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-02](https://asc.understandingaccounting.org/updates/asu-2016-02/)