Only one in five finance, accounting, and other professionals say their companies are “extremely” or “very” prepared to comply with the Financial Accounting Standards Board’s (FASB) and International Accounting Standards Board’s (IASB) respective new lease accounting standards, according to a recent poll
from the Deloitte Center for Controllership. The rules, effective next year, will thrust a huge dollar amount onto the balance sheets of listed companies using IFRS or U.S. GAAP. These companies will also show higher operating profits, but total cash flows would be unaffected overall, according to the IASB.
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