Lease Accounting Services
The ASC 842 lease accounting standard impacts many areas of an organization, not just accounting. The adoption process is a practical challenge â€“ ÐÇ¿Õ´«Ã½â€™s cross-functional approach is designed to simplify the process and create a sustainable solution.
ÐÇ¿Õ´«Ã½ has extensive advisory experience assessing the impact of and implementing ASC 842 across various industries and company sizes. The standard requires significant judgment, both in applying the guidance and in considering what will likely be far-reaching impacts to companies. Finance systems, procurement, business processes, operations and financial reporting all need to be carefully considered as you respond to change. ÐÇ¿Õ´«Ã½â€™s lease accounting ASC 842 services go beyond creating a set of recommendations â€“ we become an extension of management to ensure the implementation is practical and tailored to your business needs.
Does your organization need to take a look at your lease accounting processes?
If youâ€™re wondering whether you need expert lease accounting implementation services to help you enhance how you comply with the lease standard, it may be worth your time to take a closer look at your current situation. For instance, if youâ€™re still using manual and heavy spreadsheet-driven accounting and reporting processes, there is likely potential to improve the accuracy and efficiency of your lease accounting process.
If you have numerous decentralized reporting entities, a lack of confidence in the veracity of the underlying lease data or a lack of recurring reporting of changes in the lease portfolio, then it may be time to take a second look at your organizationâ€™s lease accounting.Â A lack of effective lease accounting can create the potential for small errors to aggregate to a material level and be a significant time drain in your close process.
Working with ÐÇ¿Õ´«Ã½ means youâ€™ll be partnering with one of the leading lease accounting companies, ensuring that you have the experience and know-how on your side to navigate these complex processes as smoothly and effectively as possible.
Our lease accounting and ASC 842 consulting services span a variety of areas, including:
- Impact analysis and assessment
- Lease abstraction
- Operational accounting
- Disclosure requirements
- Policy and procedure development
ÐÇ¿Õ´«Ã½ is not a CPA firm.Â
Highlights from a virtual discussion on year-end readiness, including trends impacting audit and 2023 planning cycles.
For finance and accounting professionals at companies adopting the lease accounting standard ASC 842, hereâ€™s a roundup of our expertsâ€™ top implementation tips, technical accounting pointers, and lessons learned.
Based on a virtual event recap, here are key technical considerations for private companies adopting the lease accounting standard ASC 842.
Few companies anticipated the ripple effect of clean-up activities that would emerge following adoption.