ASC 842 & IFRS 16 Lease Accounting Standards: Risks & Solutions

By May 23, 2019 November 6th, 2019 White Papers

White Paper | Hidden Costs of Lease Accounting

The Unexpected Challenges Controllers are Facing to Maintain Compliance

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Hidden Costs

  • Leased Asset Lifecycle Changes
  • Scaling Data Collection
  • Unanticipated Additional Resources

Answer the Key Questions

  • When and How are the Costs Incurred?
  • What are the Risks from these Challenges?
  • How can Companies Address the Most Common Hidden Cost Scenarios?

Corporate finance has been given new lease accounting requirements they neither wanted nor asked for.

But the deed is done, and the process of accommodating these new requirements is well under way. While all public companies and most large private companies have developed or implemented plans to achieve compliance, many are coming to the realization that maintaining compliance is considerably harder – and more expensive – than the comparatively straightforward process of achieving compliance.

The monthly close process must now include all of these new calculations, reports, and controls to be done in the same amount of time, and usually with the same staff resources.