FASB Lease Accounting Budget

The Five Big Line Items to Include in Your Budget Estimate

FASB 842 Budgeting eBook

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Understand the Key Project Costs:

  • Business Process Assessment and Planning
  • Lease Accounting and Administration Software
  • Software Implementation, Testing, and Training
  • Data Collection and Upload
  • Project Management

The Guide also includes:

  • Explanation of Each Line Item
  • Rationale for the Investment
  • Advice on How to Estimate

How to Budget for Your Lease Accounting Project

A key factor in the success of your lease accounting initiative will be to properly budget for the incremental resources and costs needed to successfully complete the project and meet the new compliance standard. Most companies will need to purchase a specialized lease accounting software application. They will also need to get help from outside consultants to implement the software – especially with collecting and populating all the necessary lease data. 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.