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It has taken some time to get here, but it finally appears that there will be no further delays or extensions to the adoption/disclosure date of the FASB ASC 842 lease accounting standard for private companies. Many public company, such as supermarket chains and mall-based retailers have already successfully implemented the standard.
This blog article looks at lessons learned by companies who have already adopted ASC 842 and what key areas you need to address during your compliance journey.
Read on to learn how you can achieve ASC 842 adoption.