Changes afoot on all companies’ balance sheets

ADDITIONAL CALCULATIONS: Claire Iacobucci, right, partner and director of audit services at Providence accounting firm Kahn, Litwin, Renza & Co., speaks with June Landry, partner and chief marketing officer. Iacobucci said new reporting requirements for companies leasing assets longer than a year involve more accounting work.
 / PBN PHOTO/MICHAEL SALERNO
ADDITIONAL CALCULATIONS: Claire Iacobucci, right, partner and director of audit services at Providence accounting firm Kahn, Litwin, Renza & Co., speaks with June Landry, partner and chief marketing officer. Iacobucci said new reporting requirements for companies leasing assets longer than a year involve more accounting work.
 / PBN PHOTO/MICHAEL SALERNO
Beginning this year, public companies are required to change the way they report leases longer than 12 months on their balance sheets, a move intended to improve financial transparency. But it also might create headaches for some businesses. Privately owned companies will have to follow the new requirements by 2021. The changes were developed by…

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