Much like the changes under the Tax Cuts and Jobs Act, the new lease standard is complex and likely will require significant hours to implement correctly. Join guests Chris Telli and Jessica Richter as they help educate host Damien Martin on the change and discuss what measures organizations should take to comply with the new standard. Here's what's covered:

• Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, and Financial Accounting Standards Board (FASB) Accounting Standards Codification [01:35]
• The big shift under the new standard [04:03]
• Implementation example [07:20]
• Awareness of the change [11:05]
• Private companies are underestimating what it will take to implement [15:38]
• So what does this mean for lessors? [18:33]
• How it's going so far and additional considerations [20:08]
• The biggest challenge [24:42]

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