Your lease accounting challenges
Real estate leasing and accounting teams are changing the way they view leasing to address these challenges:
- Delivering meaningful cost savings
- Maintaining quality, accuracy and timeliness
- Collaborating across real estate and accounting teams
- Automating processes and workflows
- Achieving economies of scale
- Leveraging offshore and nearshore talent
- Having visibility into deal progression and contract structuring
Our approach to success
RSM’s lease accounting and lease administration team offers economies of scale and technology-enabled processes and workflows, as well as offshore, nearshore and local resources, to deliver with the end in mind. We provide public and private clients with the confidence that their financial statements are accurate, minimizing the potential for the discovery of errors during the audit process. We are uniquely qualified to serve your lease accounting and lease administration needs for real estate and equipment leases, delivering timely and accurate data through accounting and reporting under U.S. generally accepted accounting principles (GAAP), International Financial Reporting Standards (IFRS) and the Governmental Accounting Standards Board (GASB). With specialized focus on Accounting Standards Codification (ASC) 842, IFRS 16, GASB 87 and GASB 96.
We align people, process and technology in a comprehensive strategy, going beyond simply addressing your concerns and accurately reflecting your lease transactions to give you:
- Process outsourcing without loss of control
- Support ranging from full outsourcing to focused assistance
- Technology-assisted and monitored workflows
- Cost savings of 10%−30%, with no upfront costs
- Operational excellence without the investments
- Flexibility to move talent to more critical priorities
- Reduction of employee turnover costs
- Resource and cost scalability
- Risk reduction through accuracy and compliance
- A predictable cost structure
A strategic, end-to-end approach to lease management
Delivering sustainable lease administration and lease accounting compliance by managing the volume, details and complexities of your company’s leases through best-in-class, technology-enabled workflows.
Trust RSM to effectively maintain your various lease portfolios and generate customized insights for each lease population. Through our holistic approach, you will be able to make key decisions based on accurate, current and meaningfully presented data.
We handle key business functions, including:
- Critical data management
- Payables processing
- Common area maintenance (CAM) audits
- Statutory reporting compliance
- Lease structuring and pro forma analysis • Lease collection workflow
- Fleet vendor management
- Key performance indicator (KPI) analysis
- Triple net (NNN) lease maintenance and response ticketing workflow
Whether public or private, your company needs confidence that your financial statements are accurate now, minimizing the potential for the discovery of errors during the audit process. If not properly updated and accounted for, lease populations become a significant financial reporting risk. Maintaining a portfolio under multiple standards or even one accounting standard—such as U.S. or local GAAP, IFRS or GASB—presents additional financial reporting risks for your team. Avoid risk and remove distractions by bringing in our team to singularly focus on your lease accounting. We elevate your team by managing:
- Lease abstraction to produce accurate lease accounting schedules
- Lease modification and termination calculations
- Journal entries and quarterly reporting packages
- Financial statement disclosures
- Audit requests
Our center of excellence team will assist with more complex technical accounting issues, including:
- Sale leasebacks
- Build-to-suit arrangements
- Impairment and abandonment accounting
- Leases acquired through business combinations
- Complex embedded leases
- Pre-transaction lease structuring
The effort and technical experience required to accurately abstract your lease data and establish accurate lease accounting schedules can be underestimated, only to be revealed during the audit process. Our lease abstractors are not focused solely on abstraction for lease administrative purposes—they are also experienced lease accountants.
Our team consistently delivers key benefits, including:
- Automated workflows for streamlined review of lease documents and abstraction of key data points to ensure compliance with Accounting Standards Codification (ASC) 842, IFRS 16, GASB 87 and GASB 96
- Experience assisted by AI technology for the most cost-effective approach
- Foreign language lease abstraction for international portfolios
- Predictable cost structure, realizing 10%−30% cost savings
If you are not yet using lease administration and lease accounting technology, or aren’t satisfied with your current system, we can help. Our experienced advisors can manage the selection and implementation of leading lease administration and lease accounting applications, provide training on their use and have assisted hundreds of clients in finding the right solution to fit their needs.
Already on a system? We can optimize your existing lease administration and accounting technology.
Don’t want to invest? We can set you up on our solution.
We have relationships with several leading technology providers, including:
- Visual Lease
- FinQuery (formerly LeaseQuery)
- Tango
- NetLease
- LeaseCalcs
200+
clients utilizing RSM lease accounting and lease administration services for ASC 842 compliance
70,000+
leases undermanagement with RSM clients
Clients with as many as
22,000+
leases and as few as 10 leases
Public and private clients across
41
countries in a diverse array of industries
Related insights on ASC 842 compliance
Do you know how to evaluate ASC 842 technology solutions?
ASC 842 represents a significant shift in lease accounting standards and many technology solutions can ease the transition and help organizations remain compliant.
Related solutions for ASC 842 Compliance
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