The New Leasing Standard

Accounting Standards Update (ASU) 2016-02, Leases is effective for private companies for fiscal years beginning after December 15, 2019. If you have leases, the new standard will change your financial statements and disclosures, and may also introduce significant new processes within your organization to properly account for leases. We have prepared this 5 minute video to watch at your convenience to help you begin planning for ASU 2016-02. The video is intended provide you with a high level look at how the new standard may impact your organization, and also provide you with next steps as you begin planning.