Metal Product Manufacturer Lease Accounting Case Study
Smooth and accurate lease accounting system implementation for ASC 842 compliance
Simplification of processes
The Company can now renew and modify agreements with automatically updated disclosure reports, balance sheet positions, and journal entries. In addition, they can segregate leases for management reports.
Better management of a decentralized lease program
By integrating corporate accounting, the work of accountants at each plant, and the data from several ERP systems across the US, Europe and Canada, the Company was able to consolidate journal entries and the month-end process.
Easy reporting for ASC 842 compliance
The balance trend report, quantitative analysis report, and maturity analysis report helped with the complicated disclosures required under ASC 842.
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