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One of the biggest accounting changes of the past few years went into effect for public companies at the beginning of 2019.  Of course, I’m talking about the new Lease Accounting guidelines under IFRS 16 and ASC 842.  So how’s it going so far for public companies and what can private companies learn as they prepare to implement the new guidelines?

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The implementation deadline for the new IFRS 16/ASC 842 lease accounting standards is rapidly approaching. The new standards will require organizations to report and disclose all lease obligations for buildings, office space, motor vehicles and other equipment, and reclassify them as assets and liabilities. Does your organization have an implementation plan and adequate system in place that will meet the new requirements?

(more…)

The implementation deadline for the new IFRS 16/ASC 842 lease accounting standards is rapidly approaching.  The new standards will require organizations to report and disclose all lease obligations for buildings, office space, motor vehicles and other equipment, and reclassify them as assets and liabilities.  Does your organization have an implementation plan and adequate system in place that will meet the new requirements?

(more…)

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