Financial Accounting News

Lease Accounting Change More Work Than Expected, Deloitte Says

April 1, 2019, 7:40 PM

A new accounting standard requiring public companies to report for the first time on their balance sheets the storefronts, fleets of trucks, and photocopiers that they rent has been far more work than they expected .

And they still have more work to do to, according to a Deloitte & Touche LLP survey released April 1. The firm in February polled more than 950 executives about how they implemented the new standard in the first quarter of 2019.

Twenty-five percent of public company representatives said they planned to expend as much effort in the second quarter to comply with the...

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