The accounting overhaul that put leased real estate, airplanes, and equipment on corporate balance sheets strained businesses more than anticipated given headcount and software constraints, accountants told standard-setters.
“It’s definitely a cost I think above and beyond what a lot of our companies that we’ve worked with have expected,” said Blake Collins, a partner in technical accounting and IPO services at Connor Group.
Collins and other practitioners joined investors, analysts, and academics at a roundtable hosted by the Financial Accounting Standards Board in Norwalk, Conn., Friday to understand how the rules are working ...