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Weary from accounting change, companies gear up for leases

Tammy Whitehouse | March 20, 2018

With year-end reporting and revenue recognition implementation nearly complete, public companies are preparing for their next accounting freakout—this time over leases.

Recent polls suggest companies have a lot of work to do to get ready for the next big rule, Accounting Standards Codification 842 on leasing, which takes effect Jan. 1, 2019, for public companies. A KPMG survey found that only 15 percent of companies had completed their preparations, and not quite half had implementation activity under way. The rest were still assessing or hadn’t even started to prepare.

Another poll by...

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