Many people know that the Financial Accounting Standards Board (FASB) issues new guidance periodically for accounting standards and that Revenue Recognition and Lease Accounting are quickly coming up for implementation dates. Many companies are in the throes of complying with the Revenue Recognition guidance and this is complicated stuff. The next wave of Lease Accounting is quickly following and companies will be dealing this in 2017. This area can be complex as well for some companies. We did a quick survey over the last few months with companies in the Kansas City area in regards to their Lease Accounting readiness and here is what we found:
We at Core Catalysts firmly believe that companies can minimize their efforts at implementing this compliance change while receiving some tangible business benefits through the efforts. We have achieved these type of results before with past implementations (remember the Sarbanes Oxley days?).
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