Changes in Lease Accounting and What Providers Need to Know

Insight From Hindsight Issue 26 Article

Recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing transactions will increase transparency and comparability among healthcare providers. This article examines the new requirements included in the new FASB-Lease Accounting Changes FAS 13 and IAS 17 updated in January 2018. Sharon Carter explains how providers can become early adopters and offers guidance on preparing for proper accounting principles and methods by initiating a thorough filtering of equipment and real estate leases. 

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