07 Apr Have you had to put your Accounting & Finance projects on hold? You are not alone.
Posted at 16:55h in Company News
What we have quickly identified with our clients is that there are some projects, like the Implementation of ASC 842, Lease Accounting, that can be completed seamlessly in a remote environment! With the right resources of course!
If you are a private company, now is the time. Don’t delay any further.
Learn the lessons from our public company clients including that these activities can take more time than originally planned:
- Identification of contracts and lease evaluation – One client thought they had 300-350 leases but ended up with over 800 – don’t get caught late with a miscount and no time to correct
- Lease data abstraction and migration – This can be simple or complex; many clients did not consider embedded leases in their contracts- we help look under the covers
- Determining which lease accounting tool, if any, you want to purchase and implement – Excel may seem like the answer, however is it sustainable? We have the experience to help you benchmark which tools will be most effective for your business
- Internal process changes – An important step in how you will adopt your lease evaluation going forward includes contract review and all the steps to your balance sheet – our technical consultants are experienced in both documentation and change management as you adopt this new process
Best yet, all these activities can all be done in a remote environment with the right experienced resources. We have those trusted resources available now.
Our Technical Consultants typically have:
- 15+ years of experience as a technical accounting leader with experience reviewing complex accounting issues and preparing technical memos/white papers
- Performed review of contracts, complex transaction documents and purchase orders and performed technical assessments to determine lease arrangements
- Conducted data abstraction for lease attributes
- Evaluated selection process and implemented lease accounting software
Once you are back in the office won’t it be nice to know that this project off your list?
Call us! – 1.800.CFO.3481