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Called to Account: This next accounting rule change will add liabilities to every balance sheet [MarketWatch]

CAPITAL ONE FINANCIAL (COF)  More Company Research Source: MarketWatch
Last capital one financial earnings: 4/24 04:05 pm Check Earnings Report
PDF This next accounting rule change will add liabilities to every balance sheet A big change in lease accounting due in January of 2019 will affect every public and private company in the U.S., just like the tax revamp and the new rules for recording revenue that took effect for most public companies in January. The new rules require companies to record liabilities for operating leases on their balance sheet for the first time ever. As the deadline draws closer, public companies are required to include a discussion of the potential future impact of the new rule on their financial statements. See also: How tax and accounting changes obscured a strong quarter for earnings But many companies appear unprepared for the change, according to Michael Keeler, chief executive of LeaseAccelerator Inc., a provider of software-as-a-service, or SaaS, for enterprise lease accounting. Keeler told MarketWatch that most companies started their revenue-recognition efforts late and are using the same res [Read more]

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