Changing Lease Accounting Requirements: Get to Know IFRS 16 and ASC 842
Changes in the IFRS 16 and the FASB ASC 842 lease accounting requirements could have a significant financial effect on your organization. Compliance with the updated requirements is not optional, and companies need to prepare now to minimize the effect on staff and help avoid rework in the future.
This session will offer guidance on understanding the new standards and a look at the Crowe Leased Asset Calculator, a cloud-based tool available to help your company turn this regulatory change in to an opportunity.
As a result of participating in this session, you should be able to:
- Identify critical elements of the standard changes and timelines for implementation
- Assess the financial and regulatory risk of the changes to your organization
- Determine affected systems and processes that can be automated
- Outline next steps for compliance
- Help prevent audit-adjustment and material weaknesses through proper and timely preparation