Adopting the new lease accounting standard: Lessons for private companies

The new lease accounting standard that took effect for public companies in 2019 required more time and resources than expected. Now private companies are on the clock for a 2021 implementation. On the latest Consumer Speaks podcast, Rich Paul, Deloitte & Touche LLP's US Audit & Assurance Consumer industry leader, speaks with Deloitte & Touche LLP Audit & Assurance Partner Jeanne McGovern and Audit & Assurance Senior Manager Lauren Pesa. They discuss five lessons learned from public company adoption of the standard, as well as considerations for private companies in the consumer industry.