ASC 842 Compliance Lease Accounting Tool Kit – 2021
Are you gearing up for an ASC 842 compliance project in 2021? While many public companies are nearing the end of their adoption, private companies are just getting started. Get all the resources you need for a successful project with our 2021 Lease Accounting Survival Kit.
Download these tried and true assets to jump start your internal project plan and vendor evaluation to begin collecting the lease data for the upcoming ASC 842 compliance deadline.
Download the Top Private ASC 842 Compliance Assets
How to Get Started Guide
Download this guide to understand how to navigate the first 90 days of your lease accounting project. This eBook provides an introduction to all the key decisions you will need to make to start your implementation – the key risks and challenges; how to staff the project team; and how to estimate the implementation time frame.
Sample Project Plan
Download this customizable project plan in Microsoft Excel or PDF. Useful for FASB ASC 842 or IFRS 16 with both real estate and equipment leasing portfolios. Includes all the major project phases such as business process assessment, software selection, data conversion, implementation and testing.
The 100 Data Fields to Collect
Know what data you need ahead of time to avoid having to repeat the data collection phase. This guide contains a list of 100 of the data fields you will need to collect per lease to achieve compliance with the new standards.
Budget Planning – Five Big Line Items to Consider
Creating your FASB Lease Accounting Budget will be challenging as there are few, if any, external benchmarks available to use as a foundation for your assumptions and estimates. The lease accounting standards are new and no large companies have fully implemented them yet.
Sample Budget Worksheet
Download this customizable budget worksheet for the new lease accounting standards in Microsoft Excel format. Useful for FASB ASC 842 or IFRS 16, includes all the key line items for incremental and external costs such as lease accounting licenses, data collection, software implementation and testing.
Evaluation Guide for Lease Accounting Software
Download this Evaluation Guide for a comprehensive checklist of features you should look for in an Enterprise Lease Accounting software application. Includes detailed feature lists for Lease Accounting as well as both Real Estate and Equipment Lease Administration.
Vendor Comparison Checklist for Lease Accounting Software
Download this Vendor Comparison Checklist for Lease Accounting Software. It includes all the key requirements for an enterprise-class solution including lease classification, policy elections and judgments; financial disclosures, management and responsibility center accounting. Downloadable in an editable Microsoft Word document that you can customize and use to rank/compare vendors.