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[Music] well its finally happened the final standards are out for ASC 842 and IFRS 16 meaning that all of your real estate and quipment leases longer than 12 months well have to move on to the balance sheet but if you were hoping that your ERP system would just be able to crank out the reports you need you might be in for some bad news you see there are some hidden problems regarding equipment leases that a lot of companies havent thought about yet it starts with simply finding and documenting your equipment leases your real estate leases are probably kept neatly in a facilities management system but your equipment unlikely in fact for most companies equipment leases are kept in numerous systems and spreadsheets across multiple departments all over the world even worse many firms dont even know what they lease sure trucks servers that kind of thing is obvious but it can also include the desk youre sitting at your PC the phone youre using even the chair youre sitting in and even