Are you fed up with all the recent accounting rule changes? For many private companies, the new lease standard that went into effect in 2022 was the last straw. Here’s an alternative reporting framework to consider.
Private companies: Have you implemented the new lease accounting rules? If not, you can’t afford to procrastinate any longer. Here’s what you’ll need to do before year end and how it may impact your financials.
Coming soon: Private companies and nonprofits that rent equipment, vehicles and real estate will need to update their accounting systems for major changes to the rules for long-term leases under U.S. GAAP.