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:
- Business requirements and software selection
- Software configuration and implementation
- Business process design
- Technical accounting
- Project and change management
- Impact analysis and assessment
- Lease abstraction
- Operational accounting
- Disclosure requirements
- Policy and procedure development
Riveron is not a CPA firm.
Other Accounting Advisory Offerings
The FASB issued three proposed accounting changes to the lease accounting standards ASC842.
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In this webinar, Riveron experts address the challenges facing many public companies following their adoption of ASC 842.
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.