Wed Feb 17, 2016
KPMG finds only 29% are prepared to implement changes in revenue recognition and lease accounting.
Professor Elam
Accounting & Investing Info for San Antonio A & M
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Posted in Financial Acct
2 responses to “Corporations Struggling with Revenue Recognition, Lease Accounting”
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This was an interesting read because I work for the City of San Antonio and we just received notice from GASB concerning a new exposure draft regarding the reporting of leases for local and state governments. The new draft requires a lessee government to recognize a lease liability and an intangible asset representing its right to use the leased asset. A lessor government would be required to recognize a lease receivable and a deferred inflow of resources. This is supposed to help with transparency. After reading this article and seeing the struggles with the implementation it makes me a little nervous for when we have to implement.
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Victoria
If you think you are nervous implementing imagine how I feel trying to teach something no one is sure about to be gin with, Yikes!LikeLike
Professor Elam 
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