AAFCPAs’ Lease Task Force Advises: Do Not Delay!

In 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease transactions.

Implementing FASB’s lease accounting standard will require businesses to invest considerable time and resources in gathering the information required for reporting. AAFCPAs advises clients to not delay!

Lease Implementation Resources:

• Lease ASU Implementation Support Solutions – AAFCPAs provides comprehensive ASU Implementation Solutions or al la carte support for phases of your implementation.
• Lease Implementation Checklist – AAFCPAs designed a comprehensive checklist to help clients understand the scope of the ASU implementation process.
• Lease ASU Whitepaper – AAFCPAs provides a detailed Whitepaper providing guidance on the FASB’s Lease standard so clients may proactively consider the impact on their current and future operations. This Whitepaper includes a comprehensive outline of the scope of the new lease standard, effective dates, disclosure requirements, and practical considerations for lessees and lessors.
• Webinar OnDemand: AAFCPAs’ Guide to Lease ASU Implementation – In this 60-minute webinar, recorded in November 2021, AAFCPAs helps listeners understand what it takes to ensure a successful implementation.

Meet the Task Force Leadership:

AAFCPAs assembled its Lease Accounting Task Force to ensure clients can implement the new ASU with efficiency and ease. We have been dedicated to interpreting and advising clients on the ASU since introduced by the FASB back in 2016.

Ashleigh Marks; Bethany S. Faford; Caitlin Harvey; Daniel D. McManus; Hui-Ting Grady; Jeffrey E. Mead; Jennifer A. L’Heureux; Matthew R.  Hutt; Olga Yasinnik; Richard J. O’Neil; Sumit Saxena

Contact us to discuss how the new lease standard will impact your organization—and how we can help.