Everything you need to know about the new lease accounting standard under ASC 842. CPA and Oracle NetSuite's Software Industry Expert, Carrie Augustine, explains how the new standards differentiate from the previous standards (6:07), why these changes are going into effect right now (9:14) and what companies (most notably, accounting teams) can expect from these changes moving forward (11:18). Augustine explains why it's imperative for companies to operationalize the processes in accounting for the new standards (13:50), especially in reporting ratios to investors or banks (19:34). Finally, Augustine provides pertinent information regarding the timeline in which companies should be accounting for ASC 842 (21:37), how long a company will need to prepare for the changes (22:41) and how Oracle NetSuite can help (24:44). Tune in for all of this and more!

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