Lease Update – Help on the Way

Thoughtware Article Published: Jul 07, 2018
Changing Piling Up

Executive Summary

Accounting Standards Update 2016-12, Leases (Topic 842), requires lessees to recognize all leases with terms greater than 12 months on their balance sheet. The standard is not effective until 2019, but as larger companies begin implementation efforts, many detailed questions and unexpected operational challenges have arisen. Read on to learn more about how the Financial Accounting Standards Board is addressing these issues.

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