Billions of dollars in capital and operating lease assets will be added to balance sheets as right-to-use (ROU) assets starting with 2019 or earlier. Leasing is an important activity to finance and gain access to assets and reduce an organization's exposure to the risks of asset ownership. The current off-balance sheet accounting has been criticized for years. Finally, the accounting boards have converged on a new standard effective in 2019. This session will educate you on what this means for your company.
You will learn:
• What are the new rules?
• How will US accounting differ from the rest of the world?
• What should my company do to prepare?
Kent has over thirty-five years experience creating new organizations, implementing and managing information systems including SAP, and creating and delivering business training programs including SAP. Currently he is focused on evaluating and implementing solutions for the new Revenue Recognition and Lease Accounting standards. Kent is also an active ASUG leader on the PLM-Project Management SIG and the Oil & Gas SIG.