New Lease Accounting Guidelines

Preparation

Functional Requirements

How We Can Help

  • Discovery session to define client-specific requirements
  • Work with external and internal auditors and Finance to define the process
  • Analyze lease portfolio to determine lease classifications
  • Project manage software system upgrade
    ‒ Devise overall upgrade plan
    ‒ Test scripts for impacted lease and
    ​   financial models
    ‒ Targeted testing
Technology will play a big part in the transition to the new lease accounting guidelines. Is your current software system up to the task? We can help you make that determination and devise both a preferred plan and a backup plan, just in case.
  • Plan A:  Software system enhancements for current system available for FASB/IASB changes
  • Plan B:  New third-party application or offline parallel plan for compliance reporting
  •  Liaise with software vendor on behalf of client
‒ Document client requirements for
   new lease accounting guidelines
‒ Provide detailed calculation
   examples & define high-level system
   enhancement requests
‒ Monitor vendor timelines & track
   vendor issue resolutions
  • End user training
  • End user documentation