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Entries by Jason Patch, JP Bryan

Changes to Manufacturing Lease Accounting

Posted 3:45 PM by
Most manufacturers, wholesalers, and distributors lease operating facilities or equipment, whether from a third party or a related party. That means nearly all of these businesses will be impacted by the Financial Accounting Standards Board’s (FASB) update to the accounting standards for leases under generally accepted accounting principles in the United States (GAAP). The updated standards, which will take effect for private companies for fiscal years beginning after Dec. 15, 2020, will affect both lessors and lessees.
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