Leasing Standard Finally Here in 2022 for Non-Public Companies and Organizations
Are you Ready for ASC 842?
In 2016, the Financial Accounting Standards Board (FASB) issued a new lease accounting standard – ASC 842 – requiring virtually all leases to be recognized on the balance sheet.
At Louis Plung, we have worked with a variety of companies that have already implemented the new leasing standard and are available to answer questions, review your leases, and assist with the accounting implementation to make the adoption of this accounting standard as seamless as possible.
To streamline the adoption of lease accounting standards and offer a simple solution for generating monthly journal entries, amortization schedules and quantitative footnote disclosures, we’ve partnered with LeaseCrunch.
Simplify the New Lease Standard
LeaseCrunch is an easy-to-use solution that addresses the biggest challenges of the new lease standard while automating the required deliverables. The software is compliant with ASC 842, IFRS 16, GASB 87 and GASB 96 and cost-effective even for a single lease.
LeaseCrunch can be used directly by you or we can process the leases through the software on your behalf.
Review These Important Lease Accounting Resources
Not sure if a lease qualifies as an operating lease?
Use the integrated website between Louis Plung and LeaseCrunch to find out and access a Readiness Checklist.