New lease accounting standards: Lessons learned from public companies
Published on:
Jun 20, 2019
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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.
