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Tesco says new accounting standard would have increased 2018-19 operating profit
FILE PHOTO: A Tesco supermarket seen at dusk in an ‘art deco’ building in Perivale, west London, Britain January 6, 2015. REUTERS / Toby Melville / File Photo LONDON (Reuters) – Tesco, the UK’s largest retailer, said on Monday that a new accounting standard for lease treatment would have increased operating profit and margin in …
Private companies fail to implement the standard for accounting for leases
About 40 percent of private companies are behind in implementing the new lease accounting standard or have yet to start preparing, even though the implementation deadline is approaching, according to a new survey. The deadline for most US-based private companies to adopt the new standard is next January, and many kicked off the transition project …