Required, not optional: Lease accounting standards are here
Most leasing activities must now be recognized on your balance sheet. Confidently meet requirements and compliance deadlines.
With added data requirements attached to lease reporting, the path to lease accounting compliance can appear difficult. We can help streamline those challenges and other day-to-day accounting issues and processes associated with application of the lease accounting standards.
Simplify and streamline your process
Automated technologies, accounting expertise, and strong processes can help ease the burden.
Intense hours of manually filling out spreadsheet entries, once conducted outside core business systems, now can be simplified by software solutions and structured services – helping you implement process advances that lighten a heavy lift.
Plan to address these impacts of lease accounting changes
Increased lease transparency
A clearer view of lease activities on the balance sheet and in the footnotes
Increased lease transparency
Balance sheet changes
Requiring balance sheets to recognize most lease assets and lease liabilities
Balance sheet changes
Dual effect changes
Affecting not only policies but also the systems used to manage them
Dual effect changes
Resource constraints
Competing for attention among existing accounting processes
Resource constraints
Tax implications
Potentially affecting your organization’s income tax reporting
Tax implications
Ongoing compliance
Using processes and controls that govern leasing activities and lease modifications
Ongoing compliance
A comprehensive approach to lease accounting: Completeness, clarity, and control
Our lease accounting services rely on three foundational principles to help you maintain compliance.
These three principles go a long way in simplifying this complex undertaking.
Completeness
Know where all your leases are and verify they’re all accounted for.
Clarity
Gain a clear picture of your business, so you know where you stand.
Control
Plan a smooth application of lease accounting and confirm compliance.
Position yourself for greater success using these 6 steps
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Crowe can help you spend less time on lease accounting and more on key business areas
Ways we can help
Addressing the complexities of lease accounting head-on is a big part of what we do. We’ve been at this for a long time and are ready to apply our deep expertise and know-how for you today.
Accounting advisory services
Engage with dedicated professionals who have specialized knowledge and experience spanning complex undertakings in technical accounting, financial reporting, and strategic transactions.
We can help you identify and implement software and technology solutions that work best for your organization – providing process innovations designed to streamline lease accounting.
Software and technology
Lease management software
Streamline your process with an integrated enteprise resource planning (ERP) solution built on the Microsoft Dynamics 365™ platform.
Lease accounting for public sector
Simplify your transition to Governmental Accounting Standards Board 87 standards for the public sector – and target inefficiencies at the same time.
Streamline your process with an integrated enteprise resource planning (ERP) solution built on the Microsoft Dynamics 365™ platform.
Simplify your transition to Governmental Accounting Standards Board 87 standards for the public sector – and target inefficiencies at the same time.
The expertise you look for when complying with the latest lease accounting standards
We know this is a complicated topic.
To say that lease accounting standards are complex is an understatement. But we’re up to the task with the lease management experience needed to make your journey simpler.
We apply the right solutions and tools.
Assembling solutions and tools tailored to your lease accounting compliance process helps things run as smoothly as possible for your organization.
We are here for you.
From planning and implementation to ongoing management, our people are accessible and present to listen and help you navigate the unique challenges you face.
Contact us
Helping you chart your road ahead to comply with lease accounting standards is second nature to us. Ask us about anything you’re looking for.
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