Select and implement a technology configured specifically for your organization and develop internal capabilities for ongoing lease accounting and lease management.
A good fit for organizations:
- With larger, more complex lease portfolios (e.g., numerous real
- With limited internal resources and expertise to adopt the standard
- In which leasing has a significant economic impact on the business (e.g., multiunit
retail or other sites)
- That want an approach fully tailored to specific needs (e.g., a system designed and configured for accounting and lease administration)
- That are looking to fully integrate a lease accounting solution with an ERP
If full implementation seems like the right path for your organization, RSM recommends performing a comprehensive system selection. Learn more about RSM’s lease accounting technology preferred solutions.
In addition to aiding software selection, RSM assists clients with the key accounting activities required to implement ASC 842. These include identification and analysis of embedded leases; data and lease abstraction; updates to accounting and financial reporting policies, disclosures and documents; developing future-state business processes; establishing and conducting training; and overall project management. With 250+ lease administration and accounting consultants and access to best-in-class data analytics and abstraction technologies, RSM brings deep technical knowledge and experience implementing ASC 842 at public and private organizations across all industries.
Organizations might also consider post-implementation lease accounting services to ease the burden of ongoing lease accounting changes and updates.