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It’s been over a year since FASB issued its new standard on accounting for leases (ASC 842). Most recently the standard was implemented for publicly traded companies. Many of these companies found the implementation to be much more involved than they originally expected and as a result, we have been fielding many questions regarding the new lease accounting standard. Here is a list of lease accounting frequently asked questions that should help you get started.
*All responses have been provided by the ProNexus Lease Accounting & Implementation team and will be received in PDF format.
Why did FASB and the IASB change accounting for leases?
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