LeaseAccelerator released the results of its first SAB 74 Disclosure Analysis for Lease Accounting report, an assessment of recent SEC filings related to the adoption of ASC 842. The report includes comments issued by the 100 U.S. companies with the largest dollar value of leasing obligations. Key findings include:
“As expected, the SAB 74 disclosures confirm that most companies are expecting a material impact to their balance sheets when they adopt ASC 842 and IFRS 16,” said Michael Keeler, CEO of LeaseAccelerator. “However, the lack of implementation progress suggests there is still a long road to compliance for many large lessees, each of which will need to implement new Enterprise Lease Accounting systems, policies and controls.”
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