The FASB, which governs the standards for US GAAP, and the IASB, which governs the IFRS, have introduced new lease accounting standards which will require operating leases to be reported on-balance sheet instead of in footnotes. Moving operating leases on-balance sheet will result in material impacts for many companies. Large companies with significant operating lease obligations will have a massive challenge ahead of them as they learn the new standards, collect all of their operating lease data, and implement new lease accounting software.
In this online guide, we will help you understand everything you need to know to implement the new ASC 842 and IFRS 16 standards at your organization. The best practices shared have been collected from the LeaseAccelerator team who has worked with hundreds of companies over the past 24 months on ASC 842 and IFRS 16 implementation projects.