Leasing Compliance Lessons for Private Companies and Government Organizations

Leasing Compliance Lessons for Private Companies and Government Organizations

By Janet Sifers

January 2, 2020

Leasing compliance lessons for private companies

If you’re in a private company or government organization, you get an extra year to prepare for lease management compliance with ASC 842 and GASB 87. It’s the perfect time to learn from the real-world leasing compliance lessons from public companies that adopted the standards throughout 2019. Also, as you begin your implementation projects, you will have the benefit of being able to consult public SEC filings for your peers to see real-world examples of quantitative and qualitative disclosures.

One key example of this can be found when public companies in the first quarter of adoption struggled with leasing compliance issues such as proving the accuracy and completeness of their lease population.