The new ASC 842 lease accounting standard impacts many areas of an organization, not just accounting. The adoption process is a practical challenge – Riveron’s cross-functional approach is designed to simplify the process and create a sustainable solution.
Riveron has extensive advisory experience assessing the impact of and implementing ASC 842 across various industries and company sizes. The standard requires significant judgment, both in applying the guidance and in considering what will likely be far-reaching impacts to companies. Finance systems, procurement, business processes, operations and financial reporting all need to be carefully considered as you respond to change. Riveron goes beyond creating a set of recommendations – we become an extension of management to ensure the implementation is practical and tailored to your business needs.
Our lease accounting services span a variety of areas, including:
- Impact analysis and assessment
- Business requirements and software selection
- Software configuration and implementation
- Lease abstraction
- Business process design
- Operational accounting
- Technical accounting
- Disclosure requirements
- Policy and procedure development
- Project and change management
Riveron is not a CPA firm.
Other Accounting Advisory Offerings
The FASB’s new Q&A provides clarifying information on accounting elections for lease concessions provided by lessors who have been impacted by COVID-19.
In this webinar, Riveron experts discuss the highlights from the 2019 AICPA Conference on Current SEC and PCAOB Developments.
Riveron experts provide an overview of the requirements for implementing the new lease accounting standard, detailing a practical approach from both an accounting and operations perspective.
The new lease accounting standard significantly affects key ratios and metrics that entities typically report to investors, lenders, and other key stakeholders.