A guide to the new accounting standards
Accountants aren’t known for being in the business of change. While the external environment around them and the numbers coming in may change, an accountant brings stability and reliability to a business by using established practices to ensure complete compliance.
But now the rules governing accounting standards are undergoing the biggest change in 30 years. And, while accountants have been bracing themselves for a potentially seismic change for a while now, many businesses could be forgiven for being unaware that anything was changing at all.
So what is changing and how should businesses begin to get ready for the transition?