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Lease Accounting Resource Center
Insights to help you navigate the ASC 842 reporting requirements
On February 25, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), its long-awaited final standard on the accounting for leases. This brings a revolutionary change in lease accounting that will affect entities across all industries.
The new standard requires lessees to recognize most leases on their balance sheet. It will also significantly affect the accounting for certain leases and may result in key impacts on an entity’s finances and operations which may mean that companies will need to implement new application solutions to manage these requirements.
We invite you to explore the following information about the new lease standard and adoption and implementation considerations. Our consulting team is committed to bringing you comprehensive customized solutions, delivering compliance with the new standard while also enhancing financial controls and optimizing the lease-to-pay process. Subscribe to our lease accounting insights email and receive new information directly to your inbox.
Additional lease accounting resources
The proposed FASB ASC 842 deferral for private companies shouldn’t prevent your organization from starting the implementation now.
An overview of ASC 842, including the requirement for lessees to recognize assets and liabilities for all but short-term leases.
Comprehensive discussion and examples on all facets of lessee accounting, including recognizing ROU assets and liabilities for most leases.
Restaurant learns it’s important to understand the quantity of leases and complexity before embarking on an ASC842 implementation strategy.
Private company leaders can learn from the new lease standard implementation challenges public company leaders have already experienced.
As private organizations implement ASC 842, understanding how this implementation can improve efficiency is critical.
ASC 842 compliance is challenging, and the effective date is quickly approaching for private companies. RSM can help smooth your adoption.
It is critical that health care organizations have a comprehensive approach in implementing the new lease accounting requirements.
The right solution and ongoing management can provide an accurate and complete representation of your lease activity.
Join us to learn how ASC 842 changes accounting requirements and how to capture required information and calculations in NetSuite.
See more Lease Accounting Insights »