EP.14 MAJOR Changes to Lease Accounting
from The Financial Bites Podcast Hosted by Chris Passmore
On January 1, 2022, the most significant accounting change in 40 years will go into effect for privately held companies. If you have an office or building lease, this new standard WILL affect you! Deloitte & Touche estimated the impact of this accounting change to S&P 500 companies in the trillions of dollars. Meaning there was a trillion dollar increase of total assets and liabilities on balance sheets in a 24 hour period for these companies. Are you prepared for this change? If not, listen to this podcast to get started! I will explain the new rule and how it will likely impact your financial statements.
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