As many of you may know, the FASB has chosen to change GAAP as regards revenue recognition and lease accounting. The new standards are now taking effect. Please research these standards and discuss, at a general level, how they differ from prior GAAP. Why did the FASB decide to revise these standards? Do you believe the changes were needed? Will these changes affect all companies equally, or will others have a more difficult time adopting them? How will the new standards likely impact the company you chose to focus on for your term project