Shownotes
Don’t you just hate it when you get used to doing something one way and then something unexpected comes along and flips your world upside down? Well, that’s what’s happening in the world of lease accounting.
While the Financial Accounting Standards Board’s Accounting Standards Codification Topic 842 won’t actually impact companies until 2021, as always, there are steps businesses should be taking now to prepare.
Kerry McElroy and Cody Niese are leading up Rea’s internal ASC 842 task force in an effort to ensure that the transition is as smooth as possible for our clients. In this episode, the duo helps us understand the subject of lease accounting a little bit better while explaining why the change is taking place, how it will affect businesses, the next steps businesses should take, and more.
Listen to this episode of unsuitable to learn:
- What is lease accounting and why is it changing?
- How will the lease accounting change affect small- to mid-sized businesses?
- What software solutions are available?
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