New lease accounting rules for private companies go into effect in December.
Under the Financial Accounting Standards Board's rule ASC 842, virtually all long-term leases will need to be reported on the balance sheet. This is a significant change, requiring careful planning and the right tools.
View this on-demand product demo webinar to learn how NetSuite can help:
- Easily document new and existing leases and centralize administration of lease agreements.
- Apply standard amortization or create custom amortization schedules.
- Automatically separate and post lease expense and interest fees.
- Track remaining lease obligations and right of use asset values automatically.