FAS 13/IAS 17: A lease that does not meet any of the paragraph 7(a)-7(d) criteria; that is, any lease that is not a capital lease. An operating lease does not affect the balance sheet, except when a deferred rent asset or liability must be recognized to reflect recognizing rent evenly over the lease term when the cash rent paid is not equal throughout the lease’s life.
ASC 842: A lease that does not meet any of the criteria in the 842-10-20 glossary definition of a finance lease. An operating lease is placed on the balance sheet using the same calculations as for a finance lease. However, expense is recognized generally straight-line over the lease term.
IFRS 16/GASB 87: Operating leases do not exist as such; however, leases of low-value assets and short- term leases are treated the same as IAS 17/FAS 13 operating leases (including rent leveling).