How Contract Software Helps with New FASB Lease Accounting Standards
You know it’s been coming for a long time. On January 1, 2019, the new lease accounting standards from the Financial Accounting Standards Board (FASB) will take place for public companies (2020 for private companies). On that date standards regarding operating leases with terms greater than one year will go into effect. While it may seem that day is still far away, the reality is that implementing the new processes will take time and plenty of preparation.