The new lease accounting standard has increased WeWork's liabilities by 600% compared with last year, to $17.91 million from $2.88 million, according to the company's initial public offering filing. Under the filing's risk section, the company says "the adoption of ASC 842 had a material impact on our consolidated balance sheet."
WeWork liabilities rise sharply under new lease accounting standard
Sign up for CPA Letter Daily
The latest CPA news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.