New Lease Accounting Standards Are Here

Implementation Deadlines Are Fast Approaching:

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Lease Accounting For US GAAP and IFRS

Public companies begin to transition to new lease accounting standards starting in December 2018, with private companies following one year later. That means they have a relatively short time remaining to define new accounting policies, collect the necessary leasing data, select a software application, and implement the new financial controls needed to comply. On leaseaccounting.com you will find the best resources from the standards board, accounting firms, and technology vendors organized into a single site.

LeaseAccounting.com is the leading online resource for accounting professionals seeking to comply with the new standards.

Learn More about Lease Accounting Requirements
IFRS 16 & ASC 842

New Lease Accounting Standards

In early 2016 both the International Accounting Standards Board (which sets rules for the International Financial Reporting Standards – IFRS) and the Financial Accounting Standards Board (which sets rules for the US Generally Accepted Accounting Principles – GAAP), published new lease accounting standards.

The international standard known as IFRS 16 will replace the current IAS 17 standard starting in 2019. The US standard known as FASB ASC 842 will replace the current FASB ASC 840 standard starting in 2019.

ASC 842IFRS 16Updates
Information

How Will the New Standards

Impact You?

With over $2 Trillion of leases moving onto corporate balance sheets during the transition, the impacts of the new standards will be greatest to lessees. However, lessors should be aware of the changes to their reporting requirements as well as how the new standards will impact their customers.

Who is Most Impacted by the New Lease Accounting Standards?

Find out which companies and industries will experience the greatest balance sheet change from the implementation of the new lease accounting standards.

Go To Report
Implementing the New Lease Accounting Standards

Lease Accounting Software

Many companies are deploying specialized lease accounting software, rather than using Excel spreadsheets to comply with the new standards. These software applications include a lease accounting sub-ledger and a lease accounting engine that creates the journal entries needed for the new ASC 842 and IFRS 16 standards.

IDC Market Spotlight | LeaseAccelerator

IDC Market Spotlight: Lease Accounting Software

This IDC Market Spotlight examines the ramifications of IFRS 16 and ASC 842 on companies. It also looks at the role of lease accounting software in meeting these important business process and financial statement reporting requirements.

Lease Accounting and Administration Software: An Evaluation Guide | Lease Accelerator

Evaluation Guide for Lease Accounting Software

Download this Evaluation Guide for a comprehensive checklist of features you should look for in an Enterprise Lease Accounting software application. Includes detailed feature lists for Lease Accounting as well as both Real Estate and Equipment Lease Administration.

Sample RFP for Lease Accounting Software

Download a sample Request For Proposal for lease accounting software, which outlines all the key features that are required for ASC 842 and IFRS 16 compliance. The Sample RFP is in Microsoft Word format and can be customized to meet your specific needs.

FEI Lease Accounting Conference

Watch the replay of the technology provider panel from FEI's June 2016 National Lease Accounting Conference. Hear the experts discuss the challenges of implementing the new standard for real estate and equipment leases, as well as potential solutions.

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