If you aren’t prepared for ASC 842 compliance, your business is at risk of failing an audit. Leases are incredibly complex and dynamic – and ASC 842 is not a one-and done disclosure. Lease terms change all the time as companies take on new spaces, scale back or renegotiate, and you must account for every change under the new standards. And, this work is made more complex by the fact that there are typically multiple groups involved in touching lease data. This is a large administrative lift, which makes it more complicated to ensure accurate, ongoing financial reports.
In a recent survey of senior finance and accounting professionals, 99% acknowledged real fears in potentially misreporting company lease information. Join Dixon Hughes Goodman and Visual Lease to learn how public and private businesses have successfully managed their lease accounting from preparation through Day 2 compliance.
- Common challenges and risks of inaccurate lease data
- How to get and stay compliant with ASC 842
- Tips to set up your business for long-term lease accounting compliance
