Companies are at a pivotal point in their lease accounting journey, based on results from the latest annual survey by EY and LeaseAccelerator.

Effective dates of Accounting Standards Codification (ASC) Topic 842 and Governmental Accounting Standards Board (GASB) Statement No. 87 have arrived, and organizations in all industries must develop and implement compliance plans for adoption and beyond.

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Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....