The Wall Street Journal reported that the American Institute of Certified Public Accountants and the Associated General Contractors of America have asked FASB to delay implementing the new lease accounting rules for private companies by one year.
According to the Journal, the requests reflect the difficulty private businesses face trying to comprehend and prepare for the complex rules.
“Many private companies still need to expend significant resources to adopt the new revenue standard,” the AICPA stated in its letter to FASB, adding that public companies have struggled with adoption despite having additional resources available.
For the last half century, the equipment finance industry has continued to grow year over year. Starting at $29 billion in 1960, the industry has grown to over a trillion dollars in 2018. Industry veterans still remember a time when... read more
What was the biggest challenge your team faced last year and how did you overcome it? Tom Depping: This biggest challenge has been growing in a highly competitive environment. To counter this, we chose to expand our existing markets but... read more