Countdown to ASC 842 compliance: Top five lessons learned from real world implementations

Tuesday, October 27, 2020 2:00 p.m. EDT 60 Minutes
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Implementing the lease accounting standards will likely be the biggest project controllers and financial accounting teams will be forced to tackle in 2021. With real estate and equipment leases moving onto the balance sheet, corporate leasing programs are under much more scrutiny from auditors and board members than ever before. As private companies get ready to make their overall leasing process more efficient and cost-effective, learning from other organizations that are using Lease Lifecycle Automation to achieve and maintain compliance is crucial to their own success.

During this webinar, lease accounting experts Len Neuhaus, CPA, and Matt Bartley from LeaseAccelerator will share real-world lessons learned from public companies that have already adopted the lease accounting standards and define best practices for companies tackling compliance regulations like ASC 842 in the new year.

Key Learnings:

  • Best practices in budgeting, planning, and staffing
  • Understanding key policy elections, practical expedients, and transition accounting strategies
  • How to take an inventory of your leases and locate required lease information
  • Software options for long-term, sustainable compliance, and how these systems will interact with general ledger, accounts payable, and fixed asset applications

Compliance Lease accounting
  • dan-hood.gif
    Dan Hood
    Accounting Today
  • Len Neuhaus
    VP of lease accounting
  • Matt Bartley
    Matt Bartley
    Senior Director – North American Sales