Lease Accounting Data Collection

Comply with the FASB standards For many organizations, capturing lease accounting data will be the biggest implementation hurdle on the path to complying with the FASB standards. The number one reason why many lease compliance projects go over budget—and why project deadlines go into overtime—are the numerous challenges associated with collecting lease data. Lease accounting experts from RGP and EZLease will discuss why data collection is a critical requirement for ensuring successful adoption of the new lease accounting standards, as well as how to identify which data needs to be collected and where to find it. Learning objectives:

• What key data elements are required from every lease, and what conditional data elements to consider

• Understand the leases you will need to track initial compliance and retrospective disclosure requirements

• How to gather the required information to ensure completeness and accuracy

• Setting up a process to manage ongoing accuracy of the data, including any new leases or changes to leases