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Veronica Bulman Veronica Bulman

A new accounting regulation could have a major impact on office lease terms. ASC 842 is now in effect for public companies, as of December 15, 2018, and will come into effect for private companies on December 15, 2019, and it sets a new standard for leases. According to Veronica Bulman of RSM, the new standard will require lessees, or tenants, to recognize assets and liabilities associated with most leases. This new requirement could encourage companies to sign shorter-term leases.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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