New lease accounting standards are here. Is your business in compliance?
ASC 842 and IFRS 16 are new standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) that fundamentally change the rules governing accounting for leases in order to add transparency.
The new requirements are already in effect for many businesses, so it's important that your organization knows which of its contracts are still classified as leases and how to reclassify leases under the new standards.
Download the report to learn:
- What kinds of businesses or organizations fall under the jurisdiction of new lease accounting standards.
- Which of your business’ contracts are classified as leases under new lease accounting standards.
- What businesses are expected to do with their leases in relation to balance sheets under new lease accounting standards.