Today's Rent, Lease, Buy Environment

摘要

The Financial Accounting Standards Board (FASB) has issued a new standard on accounting for leases (ASU 2016-02), and these will need to be fully implemented by public companies in 2019 and by private companies in 2020. Certain aspects of the implementation and transition methodology is retrospective, and now is time to become familiar with the new terminology and the required changes. This article serves only as a working guide. You must obtain solid professional advice if and when you get down to details.