December 1, 2022
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? Are you ready? For many private companies and nonprofits, the answer is “no”. While you are not alone, the time is now to understand the implications of the new lease accounting standard and begin implementation immediately.
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. They will discuss how to reduce your organization’s risk with a solid compliance strategy that addresses key areas such as technical accounting design, analysis of your current lease portfolio, policy and procedures development, and financial reporting. Participants will benefit from best practices and lessons learned.
This session will conclude with a brief demonstration by Casey Stewart, CPA, Manager at Netgain Solutions. Netlease, an ERP-agnostic power tool used by accountants to manage leases in-house with easy modifications, provides a valuable tool to help with implementing the new ASU.