FASB & IASB Lease Accounting: Is your Organization at Risk?
When the new lease accounting standards set by the U.S. Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) come into effect on December 15, 2018 and January 1st, 2019 respectively, they will dramatically transform the rules that govern accounting for almost all types of leases.
The new guidance will not affect all organizations in the same way. But to comply with the new standards, many companies with a large number of complex leasing arrangements will have to introduce substantial operational and system changes. This will potentially disrupt many functional areas within the business.
To make sure your organization isn’t put at risk by the new lease accounting standards, there are 10 key mistakes you should try to avoid …
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