Lease Accounting Post-Adoption
By Michael Keeler
Published in CFO
Many companies used brute force to meet the initial lease accounting deadlines. To comply long-term, they will need processes, policies, and controls. Over the coming months, these companies will need to transition to longer-term, sustainable strategies for compliance. They will need to institutionalize processes, policies, and controls for leasing that leverage automation and systems. They will need to perfect the close process to reduce the risk of earnings announcement delays. And they will need to bulletproof the record-to-report lifecycle to reduce the risk of a material weakness from their first post-implementation audit.
Also Check Out
Learn the post-adoption lease accounting events to track to stay in compliance.
There are risks and costs to lease accounting even post-adoption. Learn what they are and how to solve them.