Welcome to 842Lease.com
This is a user community ecosystem comprised of Corporate Accounting professionals, Public Accounting professionals, IT professionals, Software Vendors, and the accompanying System Implementers.
The complexities involved in ASC842 and IFRS 16 cannot be understated. The process of moving operating leases from the shadows and onto the balance sheet is a tedious and complicated process. The adoption will not only require high powered software (or at a minimum high powered Excel spreadsheets) to manage the new accounting requirements, it will require collaboration with all corporate departments. It will also require collaboration with other professionals throughout the ASC 842 ecosystem to implement the standard correctly. The risks associated with implementation are vast. From compiling the lease population(completeness) to final postings into the newly created ROU Asset and Lease Liability accounts.
842Lease.com is dedicated to collaboration of the most talented professionals in the world from some of the largest companies in the world as the march to the leasing standard adoption approaches. Join our ASC 842 Ecosystem Today!