New lease accounting standards: Lessons learned from public companies

Published on: Jun 20, 2019

The new FASB and IFRS lease accounting standards will take effect in 2020 for calendar year-end private companies. What can they learn from public companies already operating under the new standards? We'll discuss:

  • The definition of a lease and why companies must identify contracts that are themselves leases or contain leases. 
  • Management judgments and estimates required.
  • Technology considerations before and after the new standard takes effect, and addressing data abstraction and migration.
  • The importance of getting started now and the benefits of a phased approach to implementing the standard.

Participants will learn the value of putting in place a road map that the entire company can work toward.

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