FRONT OFFICE BY MARY COLLINS
Obscure Accounting Rules Can’t Be Ignored
Two accounting organizations are in the process of converging their two sets of accounting standards. Essentially, the proposed change will require companies to re-classify operating lease agreements. In addition to anticipating these types of upcoming changes to accounting rules, financial managers are also finding that their accounting systems must be prepared to address the latest challenges from federal and state agencies that are looking to collect revenue through stricter enforcement of their existing laws.
