Lease Accounting

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Lease Accounting: Your Guide Through Change

With the deadline to finalize implementation of the new lease accounting standard approaching for private companies, there are advantages to working with a firm with proven experience assisting companies with conversion to ASC 842. Our team will assist on all aspects of the implementation – from conducting the preliminary impact assessment to analyzing and categorizing existing leases, establishing policies and procedures for ongoing lease activity, addressing technology and infrastructure requirements, and project management. Our detailed plan will focus on potential challenges and risks along the way.

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Lease Accounting Implementation Tools (ASC 842)

The process and procedural changes, training, calculations, and the effort involved with implementing ASC 842 can be overwhelming. CohnReznick has extensive experience guiding companies like yours through the ebbs and flows of your organization’s needs.
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Featured Insights

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Land easements and Topic 842 – Leases

FASB update for lessors: Certain Leases with Variable Lease Payments
Insight11/8/2021
Leasing deferral not in the cards, but more relief for non-public entities
Insight11/16/2021
Machinery equipment

How far along is your organization with its implementation process?

Based on the stage of the implementation process you are in for the new leasing accounting standard updates, register for our webinar series to help guide you.

On-demand webinar series

The Leasing Standard- Taking Action and Challenges to Consider

Over the next 12 months, private companies will undertake the task of implementing the Financial Accounting Standard Board’s (FASB) new Leasing Standard (ASC 842). While this standard is generally viewed as being less complicated than the new revenue recognition standard (Topic 606), we believe there are unique implementation challenges.

On-demand

The Leasing Standard- Maintaining Momentum Through the Final Stages

In our first webinar ‘The Leasing Standard – Taking Action and Challenges to Consider‘, we discussed the challenges private organizations should be cognizant of as they work through the assessment phase of implementing the Financial Accounting Standard Board’s new Leasing Standard (Topic 842).

On-demand 2/21/2019

Inception to implementation and beyond

Now that we're nearing the home stretch for implementation of, and compliance with, the lease accounting standard (ASC 842), clients are seeking advice on where to start. While many companies are in the process of preparing to comply, others have yet to address it seriously. Our message to our clients – it's time.

On-demand

Lease accounting – Back to basics and next steps

Listen to members of our National Assurance practice for an informative webinar where we’ll get back to lease accounting basics regarding key concerns, processes, and procedures, as well as help you to get on the right path moving forward.

On-demand 7/14/2022

Subject matter expertise

  • Contact Robert Robert+Hilbert robert.hilbert@CohnReznick.com
    Robert Hilbert

    CPA, Managing Partner - Assurance

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Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.