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Write a one to two page memorandum to be sent to the clients

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Reference no: EM131710039

Assignment

You work for a CPA firm that provides accounting and consulting services for a diverse group of clients. Most of these companies are involved in leasing activities as lessees. Write a one to two page memorandum to be sent to these clients explaining the coming changes in lease accounting for lessees. Be sure you discuss the following:

· FASB update that caused the change and effective date

· Main differences from current lease standard

· Types of leases

· Criteria for classification

· Financial statement effects

· Disclosures

Your memorandum will be evaluated based on responsiveness to requirements, coherent organization, conciseness, clarity, grammar, and quality of presentation.

Reference no: EM131710039

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