Discussions
It’s that time of the year again! As we embrace the holiday cheer, we want to share an important announcement regarding our holiday schedule. Our dedicated team of NetSuite Support Gurus will be taking a short break to recharge during the holidays, from December 24, 2024, to January 1, 2025. We’ll be back in full swing, ready to assist you on January 2nd. During the break, feel free to explore the wealth of NetSuite resources on our platform.
As we celebrate the season's joys, we are incredibly grateful for your ongoing support and engagement. Have a fantastic holiday break, and let's gear up for an incredible 2025!
Here are some examples to get your creative juices flowing.
"Did I pay vendor John Doe last month?"
"Take me to my largest sales order for this month."
"What invoices haven't been paid yet?"
Navigating the New Lease Accounting Regulations: ASC 842 and IFRS 16
Posted by Tom Kelly, Senior Director of Product Marketing
Now that public companies have adopted ASC 606 for revenue accounting and private companies are on track to do the same by the end of this year, a new accounting change is on the way that will address the way companies account for leases.
These new lease accounting regulations will require strong accounting acumen. The new standards will require organizations that lease assets, or “lessees” to recognize the assets and liabilities of those leases on their balance sheets. The new guidance requires lessees to recognize assets and liabilities for leases with terms of more than 12 months.
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
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