The FASB has issued new guidance that will make it easier to adopt the new leases standard, ASC 842, Leases. Most significantly , additional transition method is now available. Under a new transition method, comparative periods presented in financial statements in the...
You hear horror stories in the lease accounting webinars hosted by big accounting firms. Some early adopter companies, acting as guest speakers, proudly explain why their implementation efforts involved an army of dedicated staff and project leaders, took many months,...
Most lease software are not strong in lease accounting. They were derived from prior lease management softwares. They often lack understanding of complex lease accounting issues, ignorant of public disclosure requirements, let alone transition from former accounting st...
