---
title: "In the News: Revenue, Lease Accounting Challenge Private Companies"
description: Lease accounting remains a challenge for private companies after a one-year, pandemic-related delay.
---

[Press | Crunchafi ](https://www.crunchafi.com/newsroom)

# [In the News: Revenue, Lease Accounting Challenge Private Companies](https://www.crunchafi.com/newsroom/revenue-lease-accounting-challenge-private-companies)

 Written by [LeaseCrunch®](https://www.crunchafi.com/newsroom/author/leasecrunch) | Aug 24, 2021 3:32:22 PM

Revenue recognition and lease accounting remain a challenge for private companies after a one-year, pandemic-related delay in effective dates provided financial statement preparers some relief.

Changes to accounting for revenue under Accounting Standards Update (ASU) 2014-09, *Revenue From Contracts With Customers (Topic 606)*, and leases under ASU 2016-02, *Leases (Topic 842)*, have been on private companies’ radar for many years. In June 2020, FASB deferred the effective dates of these standards for certain companies by one year, to provide relief as a result of the COVID-19 pandemic, by issuing ASU 2020-05.

You can read the full article from the [Journal of Accountancy here.](https://www.journalofaccountancy.com/news/2021/aug/revenue-lease-accounting-still-challenge-private-companies.html)

[View full post](https://www.crunchafi.com/newsroom/revenue-lease-accounting-challenge-private-companies)

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