Dave Loucks, Director in Opportune LLP’s Complex Financial Reporting practice, discusses why the ASC 842 lease accounting standard significantly impacts how private and public businesses manage, account for, and report substantially all leases, including equipment and real estate on their balance sheets, why private companies are required to adopt the ASC 842 standard by or before the December 15, 2021 deadline, and how private companies should prepare now to comply with the new standard, and more. For more podcasts from Opportune, visit https://opportune.com/insights/podcast.