Lease Accounting Standard Implementation Resources

Resource Center

We have you covered. – We realize implementation of Topic 842 can be tricky and time-consuming, so GRF has developed this dedicated resource center to help your organization achieve compliance and meet the implementation deadline.

After helping numerous clients implement Accounting Standard Update (ASU) 2016-02, Leases (Topic 842), GRF’s team of audit specialists has compiled a list of tips, from their perspective as practitioners, to help organizations struggling with the new standard. Learn these tips for successful implementation.

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The implementation of FASB’s updated Lease Accounting Standard, ASU 2016-02 (Topic 842) has given rise to many questions for organizations yet to adopt the new standard. In this webinar, you will learn how to reduce your organization’s risk with a solid compliance strategy.

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GRF’s audit experts have provided a transition checklist for successful implementations.

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After a delay due to the pandemic, the effective date for private and not-for-profit entities to comply with ASU 2016-02 (Topic 842) was January 1, 2022. Have you complied with the new standard? Join GRF’s audit and assurance experts as they take a deep dive into the ASC 842, providing attendees with practical steps as they prepare for implementation.

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Webinar: Meet the Implementation Deadline

December 1 | 1:00 – 2:00 PM ET

After a delay due to the pandemic, the effective date for private and not-for-profit entities to comply with ASU 2016-02 (Topic 842) was January 1, 2022. Have you complied with the new standard? Join GRF’s audit and assurance experts as they take a deep dive into the ASC 842, providing attendees with practical steps as they prepare for implementation.

Featured Speakers:

  • Lindsay Dean, CPA
  • Steve Lyons, CPA

Register

Technology

GRF uses NetLease to assist clients with implementing the new lease accounting standard. The resources below explain how we leverage this technology to help clients achieve audit-ready compliance.

NetLease  provides easy audit-ready compliance for ASC 842 and IFRS 16 by supporting decision-making throughout the entire lease lifecycle, providing a robust end-to-end audit trail, and storing key details and documents for each lease record.

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NetLease provides the most efficient and standardized way to verify lease accounting schedules. It generates all necessary schedules to verify compliance with new lease accounting standards and exports them to Excel. It also handles complex lease situations including modifications, decreases in scope and ROU impairments.

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Many organizations need help becoming audit-ready when it comes to ASC 842. NetLease’s cloud-based solution simplifies the transition and creates a consistent audit workflow.

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NetLease is a lease accounting software solution designed to provide the most efficient and standardized way for accountants with any size of lease portfolio to comply with ASC 842, IFRS 16, and GASB 87. It produces the disclosure requirements and support to automate the full lease accounting life cycle including transition, initiation, modification and termination.

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Lease Accounting Standard Implementation Task Force

GRF CPAs & Advisors can help your organization achieve compliance and meet the implementation deadlines.

GRF Partner Amy Boland

Amy Boland, CPA

Partner and Director, Audit

John R. Pace, CPA, CVA

Partner and Director, Outsourced Accounting & Advisory Services

Lindsay Dean, CPA

Partner, Audit

Steven Lyons, CPA

Senior Manager, Outsourced Accounting & Advisory Services

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Contact us to speak with an assurance expert about how GRF can help your organization.

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