Example of how XML, the basic
extensible markup language, tags information for a
book publisher. Data on the left are the tags for
such information as the order number, the name of
the person buying the book, the price and the
author. Data on the right are the same data but
represented in database fields.
ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.