Stay compliant with evolving lease standards—AAFCPAs helps CFOs streamline lease calculations, reporting, and classification with guidance and advanced technology.
Lease accounting advisory and ASC 842 compliance support
As CFOs know, lease accounting can be incredibly complex due to the detailed analysis required to identify and classify leases, including embedded leases in service agreements. This is made more complex and onerous when organizations have multiple leases and recurring lease modifications. The lease standard mandates recognizing right-of-use assets and lease liabilities on the balance sheet, which involves intricate calculations and significant judgment. We work with CFOs, controllers, and finance teams at organizations with multiple leases, frequent modifications, or complex service agreements.
AAFCPAs provides lease accounting consulting services to help organizations comply with ASC 842, improve lease data accuracy, and streamline ongoing lease management. We support impact analysis, lease calculations, software implementation, and policy development using AI-enabled lease technology.
ASC 842 lease accounting advisory and compliance support
ASC 842 requires detailed analysis, ongoing judgment, and precise reporting across all lease types and modifications. AAFCPAs helps organizations address the requirements of the standard across impact analysis, lease calculations, reporting, and supporting systems and processes. Our services combine technical accounting expertise with enabling technology to improve accuracy, efficiency, and ongoing compliance.
We help clients understand the impact of the lease standard on lease changes, including modifications, extensions, new leases, and terminations. Our services include assisting with the inventory of all existing leases and terms and analyzing qualifying lease agreements. We provide detailed summaries and accounting treatments, guidance on classifying leases as operating or finance, and advice on bundling lease agreements and similar policies to improve analysis efficiency.
For clients with multiple leases, we use AI-enabled software to perform lease calculations quickly and provide monthly entries. This includes data entry and generating spreadsheets while maintaining auditor independence for assurance clients.
For non-attest clients, we offer comprehensive lease consulting services to support all aspects of lease management. Our expertise includes assisting with the selection and implementation of lease accounting software tailored to your needs, providing staff training on software usage, drafting policies and procedures for efficient lease management, and offering strategic guidance on lease-related decisions. Additionally, we host lease data in our software as appropriate. Our goal is to deliver tailored solutions that simplify lease accounting and ensure compliance.
What Our Clients Say
We appreciate the value AAFCPAs adds to our operations. In response to our goal of improving our internal controls, we hired AAFCPAs to perform quarterly reviews. I thoroughly enjoy the reviews and have become more knowledgeable in many areas such as grants–recognizing grant revenue and lease accounting. AAFCPAs is critically important in helping us gain efficiencies and lower risks. I consider them an excellent overall value.
Our Advisors
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