3 Things To Consider - Tackle the New Lease Standard #086
b'
Much like the changes under the Tax Cuts and Jobs Act, the new lease standard is complex and likely will require significant hours to implement correctly. Join guests Chris Telli and Jessica Richter as they help educate host Damien Martin on the change and discuss what measures organizations should take to comply with the new standard. Here\\u2019s what\\u2019s covered:
- Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, and Financial Accounting Standards Board (FASB) Accounting Standards Codification [01:35]
- The big shift under the new standard [04:03]
- Implementation example [07:20]
- Awareness of the change [11:05]
- Private companies are underestimating what it will take to implement [15:38]
- So what does this mean for lessors? [18:33]
- How it\\u2019s going so far and additional considerations [20:08]
- The biggest challenge [24:42]
Learn more about our guests and get additional resources here.
GET MORE \\u201cSIMPLY TAX\\u201d
We\\u2019re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.
A complete archive of our episodes is available on our website and YouTube playlist.
We\\u2019d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.
Connect with Damien on social media! LinkedIn | Twitter | Instagram | YouTube
'