The Leasing Standard
January 30, 2019 at 2:00 p.m. ET
Taking Action and Challenges to Consider
Over the next 12 months, private companies will undertake the task of implementing the Financial Accounting Standards Board’s (FASB) new Leasing Standard (ASC 842). While this standard is generally viewed as being less complicated than the new revenue recognition standard (Topic 606), we believe there are unique implementation challenges. Further, the length of time needed to implement the new lease accounting standard could be significantly longer, especially when factoring in unforeseen hurdles that may not become evident until well into an organization’s transition efforts.