New Lease Accounting Standards Handbook
How to Comply with the FASB ASC 842 Lease Accounting Changes While Also Driving Savings
Download to learn:
- Who to Put on Your Project Team
- What Documents You’ll Need to Collect
- What Software Changes Will Be Required
- How to Address Your International Leases
The handbook also includes:
- Real World Accounting Examples
- SEC Reporting Impacts
- Summary of FASB/IFRS Rules
Get the New Lease Accounting Standards Handbook
Purpose of the New Lease Accounting Standards Handbook
The New Lease Accounting Standards Handbook will help you get prepared in time to meet the 2019 (or 2020) deadlines established for FASB ASU 2016-02 (FASB ASC 842) and IFRS 16. The handbook focuses on accounting and administration for lessees of equipment and real estate. While focused on compliance, it also provides suggestions about how to drive cost savings and return on investment (ROI) as you carry out an implementation plan.
The handbook provides CFOs, treasurers, controllers, technical accountants, and financial reporting directors who are involved with leasing activities and financial reporting with advice and detailed guidance on how to meet the external compliance requirements and internal fiduciary responsibilities.
To meet the compliance deadline, companies should start preparing now by: (1) forming a project team with representatives from all departments involved in the leasing process and (2) developing processes, systems, and controls that will record all necessary data required for compliance. A nine step transition process is detailed in the second part of the handbook. The transition process will result in significant savings and a meaningful ROI rather than exclusively being a compliance cost.