Lease Accounting: Six Steps to Prepare for Compliance

Take the steps toward lease automation Compliance with the lease accounting standard applies to every organization subject to the rules of the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB), regardless of size. Even if you only have a few leases, you still need to go through the process of identifying, abstracting, classifying, properly accounting for and managing your leases throughout their terms. Lease accounting experts from EZLease review the first steps toward leasing automation and how to go beyond spreadsheets to meet your compliance goals quickly and effectively. With so many lease accounting changes required, these best practices will help you to simplify compliance with the FASB and GASB deadlines. Viewers will:

• Understand the typical leasing data categories

• Learn the requirements of the expanded lease definition

• Uncover who owns the leases and data

• Discover where the leasing data lives

• Understand the importance of centralized leasing data

• Learn the common approaches to resource planning