The Financial Accounting Standards Board (FASB) released its anticipated update to lease accounting stipulations under accounting principles generally accepted in the United States of America (U.S. GAAP). The updated standard requires businesses to record and recognize the assets and liabilities of all leases with terms longer than 12 months. This mandate applies to both current categories [...]
To navigate successfully through the new lease accounting implementation, businesses must capture relevant data as soon as possible. CRI has developed a six-step process to assist your businesses in assessing the impacts and adopting the new rules. Watch as Bruce McFadden discusses the financial and operational effects of lease accounting.