27 min
3 Things To Consider - Tackle the New Lease Standard Simply Tax
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- Business
Much like the changes under the Tax Cuts and Jobs Act, the new lease standard is complex and likely will require significant hours to implement correctly. Join guests Chris Telli and Jessica Richter as they help educate host Damien Martin on the change and discuss what measures organizations should take to comply with the new standard. Here’s what’s covered:
Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, and Financial Accounting Standards Board (FASB) Accounting Standards Codification [01:35] The big shift under the new standard [04:03] Implementation example [07:20] Awareness of the change [11:05] Private companies are underestimating what it will take to implement [15:38] So what does this mean for lessors? [18:33] How it’s going so far and additional considerations [20:08] The biggest challenge [24:42] Learn more about our guests and get additional resources here.
GET MORE “SIMPLY TAX”
We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.
A complete archive of our episodes is available on our website and YouTube playlist.
We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.
Connect with Damien on social media! LinkedIn | Twitter | Instagram | YouTube
Much like the changes under the Tax Cuts and Jobs Act, the new lease standard is complex and likely will require significant hours to implement correctly. Join guests Chris Telli and Jessica Richter as they help educate host Damien Martin on the change and discuss what measures organizations should take to comply with the new standard. Here’s what’s covered:
Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, and Financial Accounting Standards Board (FASB) Accounting Standards Codification [01:35] The big shift under the new standard [04:03] Implementation example [07:20] Awareness of the change [11:05] Private companies are underestimating what it will take to implement [15:38] So what does this mean for lessors? [18:33] How it’s going so far and additional considerations [20:08] The biggest challenge [24:42] Learn more about our guests and get additional resources here.
GET MORE “SIMPLY TAX”
We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.
A complete archive of our episodes is available on our website and YouTube playlist.
We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.
Connect with Damien on social media! LinkedIn | Twitter | Instagram | YouTube
27 min