Organizations that engage in leasing need to prepare for implementation. Early adoption is permitted, but being late is not an option. Additionally, companies should consider other ramifications of applying the new leases standard beyond the organization’s financial statements, such as the impact on key financial ratios included in debt covenants or key performance indicators used to manage the business.
Whether you have just begun your compliance journey or are well on your way down the path to compliance, our experienced accounting, consulting, and technology professionals are here to assist. We can help you through the process to help you optimize your compliance efforts.