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Newest poll shows lag in lease accounting adoption

Tammy Whitehouse | May 30, 2018

With only six months to the effective date of a new accounting rule to bring leases on to corporate balance sheets, more than half of companies have not started to prepare, according to a new survey.

In an online poll by Robert Half and Protiviti of more than 2,000 finance leaders, 56 percent of companies said they had not begun transitioning to the new lease accounting standard that takes effect for public companies on Jan. 1, 2019. Private companies have an additional year to comply.

The new rule requires companies to take careful stock of their leases, not only for property and equipment but also for lease arrangements embedded in service contracts, and reflect them on the face of financial statements. The adoption of major...

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