According to EY Accounting Link, the FASB amended the new standard to provide another option for transition, which will have the same effective date as the new leases guidance.

Highlights regarding the new transition option include:

• The transition option permits lessees to avoid applying the new leases standard in the comparative periods they present in their financial statements in the year of adoption.
• Lessors have an option to avoid separating non-lease components from related lease components when certain criteria are met.