Implementing lease accounting: Down to the wire

Sponsored by Visual Lease, LeaseAccelerator, EZLease, and LeaseQuery

FASB's Codification (ASC) 842, Leases requires companies to make significant changes in the way they report operating leases. One of the initial challenges for organizations may simply be finding all of the many leases and contracts subject to the new standard. CPAs are well positioned to provide the information and assistance that non-attest clients need, either with final implementation or ongoing compliance. CPAs can also work with clients to ensure they benefit from the standard. Getting new systems up and running will be a priority for some companies, which may need advice on software implementation. (Privacy policy)