Assume you have been asked to present to the Board of Directors of a company about the new ASC standard on lease accounting and how it will impact their company. Provide a high-level summary of the changes to the accounting treatment for lessor and lessee accounting. You should identify the key points of the guidance and areas that will have the greatest impact on an organization in terms of implementation of the guidance.
There are many sources available in addition to the FASB Code and IFRS. You can utilize documents and webinars provided by the big 4 accounting firms, as well as white papers or research documents as available. You will need to cite the sources you reference, using APA style.
This is a report, it should be long enough to answer the question fully, however it should be concise and not overly "wordy". You may include any table or graphs either with the report, or an appendix to the report. Any appendices should be appropriately referenced in the report and labeled
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