ANZMEX – New Lease Accounting Standards
Compliance with the new lease accounting standards is a challenge for many organizations, but also an opportunity to improve policies & processes. Taking a more strategic approach can aid in the push to shorten month-end close while moving towards a system of ‘continuous accounting’ in which data can flow seamlessly from one process to another.
Shauna Watson, our VP of Technical Accounting will lead a presentation with our strategic partner, LeaseAccelerator.
The Financial Accounting Standards Board (US GAAP) and International Accounting Standards Board (IFRS) have announced new lease accounting rules which will require companies to provide much more detail about leases in their quarterly and annual filings. Leases will move from the footnotes of financial reports to being line items on the balance sheet. The deadline for these new lease accounting standards is 2019. That means companies need to get started now. If you are the CFO of your company you don’t want to miss this business breakfast!