The Lease Accounting Statuses:
Unrecognized - An unrecognized lease requires measurements and calculations to be made in order to recognize the lease.
Pending Changes - Someone has amended this lease. You may need to re-measure this lease for accurate accounting.
Recognized - A lease that is measured, classified and accounted for on the balance sheet.
Pending Approval - Approval is requested in order to accomplish a recognized state. This measurement will not be included in the close books process until it has been approved.
De-recognized - A lease that is no longer part of the lessee’s portfolio. For example, an expired lease.