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Jessica Epstein, project manager, Hearst Jessica Epstein, project manager, Hearst

NEW YORK CITY—The new FASB lease accounting standard changes the way companies organize and report lease information, requiring both public and private firms to report their leased assets, including real estate, on their balance sheets. They must also recognize the assets and liabilities for leases with terms of more than 12 months. Public companies were expected to be compliant by January 2019 and private companies by January 2020.

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