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Will the new lease FASB/IFRS standards require an overhaul of reporting/disclosure practices and controls?

At our recent Leadership Series in New York, we discussed the impacts of the upcoming FASB ASC 842 accounting changes and the implications for your organization. We asked the panelists “Will the new lease FASB/IFRS standards require an overhaul of reporting/disclosure practices and controls?”. The approach is a bit different than in the past, including making the connections early on that involve other departments and understand how the processes flow, as well as implementing many new controls, and including controls from processes that seemed previously removed from lease accounting but now need to be considered.

Panelists:

George Elefther, VP of Real Estate Accounting, Bed Bath & Beyond
Theresa Meier, Director of Accounting, Bed Bath & Beyond
Gabe Sugar, Director of Corporate Reporting, Darden
Kevin Fossee, Director, Advisory Services, Real Estate, PwC
Rick Zelinsky, VP of Product Strategy, Tango

Moderator: Bart Waldeck, CMO & SVP of Product Strategy, Tango

 

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