As two of the accounting world’s major governing bodies work to converge their standards on the recognition of revenue of contracts with customers, they are changing the rules on how lessees must address leases on their balance sheets and profit and loss statements. The result may drastically alter how commercial leases are negotiated.
Accounting rules require businesses to keep two basic financial statements which affect a business’s tax liability as well as its ability to attract investors and obtain financing:
- A balance sheet listing assets… Read More
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