- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
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Halfway through the first year reporting under new lease accounting rules, only one-fourth of public companies said their implementations were complete, according to a recent Deloitte poll.
Midway through the first year of complying with new lease accounting rules, only a little more than half of public companies said they completed their transition.
FASB has issued new lease accounting guidance allowing options for how to reflect uncertain operating lease receivables, which is sure to produce reporting differences.
