Beginning in 2019 the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board will require compliance with a new accounting standard for leased assets. These new standards will require significant accounting changes with regard to how leases are recorded on a company’s books and records.
As part of compliance companies not only have to record leases using the new treatment for 2019 going forward, but also must provide a look back for the prior two years as if the standard had been in place during that time.
While most companies should have been preparing for this for some time, there are still some late adopters who must act quickly. This session will provide a high-level overview of the new standard, some of the impacts of the standard on accounting software, and what specific tools and approaches Oracle has offered in its EBS and Cloud solutions