Lease Accounting 90 Day Countdown Checklist

90 Day Countdown Checklist
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The Lease Accounting 90 Day Checklist Includes

The initial deadlines for the new lease accounting standards are now less than 90 days away and widespread panic is beginning to set in. Most companies are behind schedule either because they underestimated the level of complexity associated with adoption or because of the ripple effects of delays in related projects such as revenue recognition. To help companies in their final transition efforts, LeaseAccelerator prepared a list of the 90 Things Lease Accounting Teams Need to Do in the 90 Days Before the Deadline.

Accounting Strategy

Have you finalized all of your accounting policy documents, practical expedient elections and transition strategies?

Test Planning

Have you tested all the variations of lease payments, terms, and clauses most common to your portfolio?

Process Changes

Have you updated your record-to-report, monthly and quarterly close processes?

User Training

Have you trained all the lease administrators and accountants that will be using the system?

Centers of Excellence

Have you fully staffed, trained, and enabled the accountants in your center of excellence?

Policies and Controls

Have you instituted the new controls needed to satisfy financial and SOX audits?

Systems Updates

Have you provisioned user accounts, configured reports, and validated accounting outputs?

Audit Committee

Have you updated the CEO, CFO, and audit committee on risks and issues?

Data Collection

Have you finished cleansing, reconciling, and uploading your leasing data?


Have you identified required disclosures for your annual and quarterly filings?

Learn More about the New Lease Accounting Standards

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