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How the New Lease Accounting Standard Will Impact Businesses

How the New Lease Accounting Standard Will Impact Businesses

In early 2016, the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued their new lease accounting standard, taking effect January 1, 2019. Before reading any further, let’s address the first question: what is the new lease accounting standard? In short, this standard will require organizations, public and private, to be more transparent about their lease-related assets and liabilities, also disclosing all leases greater than 12 months as liabilities on their balance sheets.
Tuesday, May 22, 2018/Author: Thomas Vick/Number of views (3534)/Comments (14)/ Article rating: 4.4
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