The FASB's revised standard on leases, ASC 842, was effective for public companies beginning 2018. One significant
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The FASB's revised standard on leases, ASC 842, was effective for public companies beginning 2018. One significant implication of this standard is that operating leases that were previously kept off the balance sheet are now required to be recorded on the balance sheet. Do you agree with the FASB's decision to move operating leases to the balance sheet? How does this change affect audit procedures?
Expert Answer:
Answer The FASBs decision to move operating leases to the balance sheet through the implementation of ASC 842 has been widely debated and opinions on the matter vary Here are some arguments both in fa... View the full answer
Related Book For 
Auditing & Assurance Services A Systematic Approach
ISBN: 978-1260687637
11th Edition
Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt
Posted Date:
