We combine our expertise with accounting skills and systems experience, tailoring our services and solutions to satisfy your technology needs.
By: LeaseQuery Let’s Start From the Beginning: What is ASC 842? ASC 842 defines leases as contracts, or portions of contracts, granting “control” of an identifiable asset for a specific period of ti...
Comprehensive Management of Lease Accounting
Lease Management Solutions help accountants and financial professionals understand how to properly account for the trillions of dollars in lease liabilities through CPA-approved, cloud-based software. From reporting to journal entries, the software addresses and improves lease accounting and facilitates compliance for organizations across all sectors reporting under FASB, IFRS, and GASB. These solutions are built with the complexities of lease accounting in mind, arming accountants with operational tools, data integrity, accounting intelligence, international consideration, and the specific disclosure reports required by auditors and regulators.
CPA-approved Lease Management Solutions help accountants and other finance professional eliminate lease accounting errors that lead to material misstatements.
Save time compiling disclosures for quarter and year-end by using pre-built templates.
Easily create any additional ad hoc reports from any data point in the system.
Easy to understand amortization schedules for lease liability and right of use asset with full details required.
Lease Liability Index ReportASC 842 compliance changes, initially adopted by public companies in 2019, are now required for privately-held companies effective at the end of 2022 for all fiscal years ending after December 15, 2021. The new lease standards, following FASB and GAAP guidance, require advance planning, research, and thorough testing. It is advised that affected companies prepare for on-time adoption to avoid additional year-end close stress and ease financial reporting readiness. Implementing a lease accounting solution can greatly help you manage this transition efficiently to ensure compliance.
Advisors for technology.
Save time and accelerate sustainable growth with our array of business management software and IT solutions.
1800 Fruitville Pike, PO Box 8408
Lancaster, PA 17604
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