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Lease Accounting: What’s Next after Spreadsheets?

Enterprise Lease Accounting Software Supports Efficient, Sustainable Processes

Sustainably Efficient and Accurate Lease Accounting

New standards for accounting for leases went into effect at the start of 2019 for public companies using a calendar fiscal year and will take effect for private companies in 2020. (For companies in the United States the new standards are laid out in ASC 842 and for most companies outside the U.S. in IFRS 16.) Companies with more than a handful of operating and real estate leases have been busy preparing for the new standards. But despite their best efforts at preparing for compliance, it is likely that most will confront issues around:

  • the software they use to manage lease accounting.
  • the management of lease-related data.
  • leasing and lease accounting processes.
  • lease management organizational structure.

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