Now that ASC 842 for private companies and nonprofit organizations is upon us, CFOs, controllers, and financial departments are faced with the complex and onerous task of transitioning to the new standard.
To become compliant, a company must not only collate, abstract, and validate all the lease data across the entire organization, but also implement the necessary processes, controls and systems required to maintain ongoing compliance post-transition – and that’s before you even consider some of the more challenging aspects of compliance such as embedded leases, navigating the new definition of a lease, and lease modifications.
In this webinar, finance and technology experts from IRIS Software Group and Withum explore the practical considerations and best practices for implementing the new standard based on the lessons learned from public market adopters. Together we discuss the current lease accounting landscape, provide practical guidance on a variety of technical and strategic issues, and offer insights on how private companies can streamline compliance with automated technology and processes.
Key Themes:
- A focus on the practical implementation issues, challenges, and opportunities
- Practical approaches to ASC 842 accounting issues
- Managing a successful ASC 842 transition
- Insights and lessons from public company implementations
- Advantages of dedicated technology that simplifies compliance
To become compliant, a company must not only collate, abstract, and validate all the lease data across the entire organization, but also implement the necessary processes.
