About ASC 842 Implementation Services

If your company has yet to develop an implementation plan for the ASC 842 leasing standard, they this should be done as soon as possible. The standard is in effect for companies with a period that begins after December of 2019. Once implemented, the standard requires operating leases to be displayed directly on the balancing sheet as a lease liability. In the past, the operating leases were simply displayed in the footnotes. Read More