Upcoming changes in lease accounting standards: How technology can help with costs savings today and regulatory compliance tomorrow
The way organizations have always managed their leases is about to change. Soon, they will need to start complying with the new accounting standards for lease accounting and reporting from regulations under US GAAP and IFRS, as proposed by the FASB/IASB.
With high volumes of complex lease contracts, industries such as telecom, oil & gas, cargo & transportation and construction are some of the most affected industries by the proposed lease accounting standards. For a smooth transition to the new accounting regulations, early preparation is not only recommended, but crucial for successful compliance and costs savings. Operators will need to change their financial reporting processes and systems now to ensure their business could function uninterrupted and in compliance with the new requirements.
In this session find out how: