Understand the new accounting guidance and the practical expedients available to organizations to begin the process in your company: read our in-depth guide to the new leases accounting standard.
The new standard under Accounting Standards Codification Topic 842, Leases (ASC 842), changes the financial reporting obligations of companies that lease assets such as real estate, vehicles and equipment.
Adopting the new standard will require a high level of effort from most entities for increased documentation and disclosures about often disparate operations.
If you need to know where to start, how to assess the impact, what systems need to be updated, how to plan your changes: we can help. Our industry specialists are well versed in how the leases standard changes what organizations need to do and we will work with you to help map out a plan that fits the needs of your organization, whether you have 10 leases or 10,000. Contact our team.