Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Weary from accounting change? Brace for more in 2019

Tammy Whitehouse | January 2, 2019

Change has become the new normal in public company accounting offices, and 2019 promises to deliver even more of the same.

Companies will file their first quarterly reports in 2019, reflecting a massive change to bring leases to corporate balance sheets. They will also stare down a 2020 effective date for a new method for recognizing credit losses, and they may need to revisit work they completed in 2018 to change the way they recognize revenue.

Leases will be the first order of business, as companies comply for the first time with Accounting Standards Codification Topic 842, which requires virtually all leases to be elevated from historic footnote treatment to a prominent place on the balance sheet. The standard took effect Jan. 1 for calendar-year public companies.

While the accounting itself is not that drastically different from historic...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.