Top of the CFO Agenda: ASC 842 Lease Accounting Compliance for Private Companies
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For private companies and organizations, 2021 brings a new accounting standard for leases. This isn’t a run-of-the-mill disclosure – becoming compliant with FASB ASC 842 will take a significant time commitment from teams across your organization.
Based on the experiences of public companies who transitioned to the new lease accounting standard in 2018, there are a number of challenges many private organizations will face. The good news is that while you’re undertaking this compliance project, you can improve efficiencies across your organization, creating time savings and cutting costs. In our new playbook, you’ll learn:
How to tackle the common challenges associated with the new lease accounting standard
How to implement your compliance project and the importance of time management as you to transition to ASC 842
How to create transparency through ongoing lease management, audit prep and reporting