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ASC 842 :Audit Procedures for Leases

Posted on December 20th, 2019 by Sanjit Anand ||Email This Post Email This Post

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The new Financial Accounting Standards Board (FASB) and international financial reporting standards (IFRS) lease accounting standards (ASC 842 and IFRS 16) will take effect in 2020 for private companies. The standards bring many leases onto the balance sheet and could significantly impact a business’ financial statements.

Here is great post on Audit Procedures for Leases under ASC 842. You can get more details at here

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