Senior US GAAP specialist to lead ASC 842 accounting implementations for Global 2000 companies
RESTON, Va. –July 24, 2019 – LeaseAccelerator, the pioneer of the Enterprise Lease Accounting software category, announced today that ASC 842 lease accounting expert Leonard Neuhaus, CPA has joined the company as its new Vice President, Lease Accounting. Leonard is a leading industry GAAP and accounting change expert, specializing in lease accounting and revenue recognition. He adds to LeaseAccelerator’s growing team of industry experts, many of whom have built or managed billion-dollar leasing programs at some of the world’s largest companies and have decades of real-world experience in technical accounting, corporate treasury, and financial systems implementations.
Bringing over 30 years’ experience as a CPA, Chief Financial Officer and Chief Operating Officer, Leonard most recently led the Project Management Office for the implementation of ASC 842 Leases and ASC 606 Revenue from Contracts with Customers at International Flavors & Fragrances Inc. (IFF). Leading IFF’s adoption of ASC 842 and IFRS 16 on the company’s SAP platform using a prospective transition approach, Leonard set up a leasing global center of excellence in the firm’s Global Services Center in Budapest, Hungary. Leonard was responsible for designing and implementing the systems, processes and controls for the successful, timely and on budget implementations of the new standards while spearheading the global implementation and application of these new standards at the corporate level.
“Having successfully implemented the new accounting standard for a global multi-national utilizing LeaseAccelerator, Leonard has very current hands-on expertise on both the new standard and how to successfully implement the standard using our leading technology,” said Tracy Henriques, Chief Customer Officer at LeaseAccelerator. “As a former CFO and COO, he can collaborate with and help guide our customers at all levels and at every stage of their implementation project and long-term operations.”
“With the initial adoption and implementation for many public companies behind us, controllers need to transition to longer-term strategies for scaling the record-to-report process driven by systems and automation,” said Leonard Neuhaus. “I am excited to bring my expertise in both the technical standard and how best to implement the standard to the LeaseAccelerator customer base. I look forward to helping firms ensure the success of their ASC 842 and IFRS 16 implementation projects.”
LeaseAccelerator offers the market-leading software-as-a-service (SaaS) for Enterprise Lease Accounting, proven to be the simplest, fastest and easiest path to compliance with the new FASB and IFRS standards. Using LeaseAccelerator’s unique Global Lease Accounting Engine, customers can apply the new standards to all types of leases – real estate, equipment and embedded – at the asset level as specified by FASB and IASB. The company’s ecosystem of certified, global partners offers a variety of guaranteed turn-key solutions. On average, the firm’s Sourcing and Management applications drive savings of 17 percent with smarter procurement and end-of-term management – compliance plus ROI.
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