The US GAAP lease accounting standard, ASC 842, requires that all leases, both operating and finance, are moved on-balance sheet unless the lease term is less than 12 months. The on-balance sheet requirement of the standard is creating a huge implementation challenge for many companies. The challenge is exacerbated for companies with large equipment leasing portfolios because equipment leasing programs are typically decentralized, making it difficult to track down the data needed to comply with the new standards. This handbook is a vital resource for private organizations who are implementing processes, controls, and systems to achieve and maintain compliance with the ASC 842 lease accounting standard. Even with the standard’s date shifting, your leasing portfolio is probably more complex than you realize, so having this extra time can really pay off as you start to automate the process.