With the new lease accounting standards now in effect, what are the lessons learned in this initial implementation?

The provisions of ASC 842, Leases, went into effect for nonpublic entities in calendar year 2022. These standards provided significant changes for lease accounting that could complicate determination of lease terms, lease payments, and discount rates as well as the identification and computation of book-tax adjustments. Join us as we explore the lessons learned from initial implementation, review key information, and identify next steps.

Learning Objectives:

• Explore lessons learned from initial implementation.
• Summarize tax considerations.
• Identify next steps for your organization.