Surprisingly, the FASB finalized the new leasing standard (ASU 2016-02) in early 2016 with early implementation available (meaning your clients or employers could request implementation immediately). It will become mandatory in 2020 for non-public entities and 2019 for publicly traded entities. Most every entity leases something (especially real property) and that means most every entity will be impacted materially by this new standard. Emphasis of the class will be solely from the perspective of how a lessee applies the standard. A must for all practitioners, public and private!
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