Balance Sheet Liabilities Continue to Climb for Private Companies Amid Lease Accounting Transition – New LeaseQuery Report
The \xe2\x80\x9cTested 10\xe2\x80\x9d industries include Banking and Financial Institutions\xe2\x80\x94which saw a 130x increase in average lease liability\xe2\x80\x94and Higher Education, where institutions\xe2\x80\x99 average lease liability multiplied 74x.
- The \xe2\x80\x9cTested 10\xe2\x80\x9d industries include Banking and Financial Institutions\xe2\x80\x94which saw a 130x increase in average lease liability\xe2\x80\x94and Higher Education, where institutions\xe2\x80\x99 average lease liability multiplied 74x.
- Additionally, between the lease accounting rule change and updated COVID-19 protocols, it can prompt and inform reconsideration of future lease vs. buy decisions.\n\xe2\x97\x8f Lease centralization is going to require increased transparency and balance sheet scrutiny.
- More than 10,000 finance professionals globally rely on LeaseQuery\xe2\x80\x99s cloud-based platform for accounting compliance, financial decision-making, data centralization, lease management and lease accounting.
- Learn more about LeaseQuery\xe2\x80\x99s core lease accounting product focused on easing the mandatory transition to ASC 842, GASB 87 and IFRS 16, or explore additional accounting tools .