In the News: Lease Accounting Is About to Get Very Real
New lease accounting rules, delayed by a year due to the pandemic and now effective in 2022, are catching many firms unprepared, according to Ane Ohm, CEO of LeaseCrunch software, who discusses the challenges and changes in an interview with CPA Trendlines.
After a delay for the pandemic, new lease accounting rules are set to take effect in 2022 and too many firms and companies aren’t ready, Ane Ohm, co-founder and CEO of LeaseCrunch software tells CPA Trendlines.
The lease standard was delayed by a year, ” Ohm says, “Instead of having been effective this past year, it is effective in 2022.” But the world has changed since the rules were first written.
You can listen to the entire interview in CPA Trendlines here.