The deadlines for the new lease accounting standards are now less than 90 days away and widespread panic is beginning to set in. To help companies in their final transition efforts, LeaseAccelerator prepared a Final 90-day Checklist for the Countdown to IFRS 16.
Download this Vendor Comparison Checklist for Lease Administration Software. It includes all the key requirements for both real estate and equipment including leasing database, critical date management, lease versus buy analysis and competitive sourcing. Downloadable in an editable Microsoft Word document that you can customize and use to rank/compare vendors.
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.
Use this budget sheet to help estimate the five key project costs, including purchasing a lease accounting software and collecting and uploading data.
To implement the new lease accounting standards, first you will need to define the project team, gain executive sponsorship, and gain budget approval. Then you will need to conduct a business process assessment, define requirements for systems, issue an RFP and select a software vendor. The longest part of the project will be implementation.