Where do your accounting change implementation efforts stand?
The new revenue recognition and leasing standards pose operational and financial challenges for many companies. Since the implementation efforts for both sets of rules overlap, many companies are currently tackling how to best implement both standards with the highest level of efficiency and the least amount of disruption.
KPMG recently surveyed over 140 companies – more than three-quarters of which are public – representing a wide range of industries to gauge where they stand in the compliance process. Read about the results of KPMG's Accounting Change Survey.
As the clock ticks down to adopt the new standard, tax professionals should consider forward-looking steps today to enable core operations to address these changes.