Lease Accounting ASU No. 2016-02

We are ready to implement the new leases standard. Many organizations should re-evaluate their implementation plan. ASU No. 2016-02, Leases (Topic 842) changes the financial reporting obligations of companies that enter into leasing transactions for assets such as real estate, vehicles and equipment. It will significantly affect your organization if you have arrangements that need to be accounted for under the new standard.