Let us help you shift into high gear and meet the deadline for ASC 842, IFRS 16 and GASB 87.
“There is no scale. The only scale you get is more hours or more people.”
Michael Allen VP Finance & Accounting and Technology & Digital Leader
RGP’s Lease Accounting Center of Excellence offers flexible services and best-in-class technology solutions partners to help you plan for and adopt the new standards. Achieve compliance faster with RGP’s impact assessment, data collection, software selection and implementation, program and project management, and change management services.
While the delay in the deadline for ASC 842 compliance brought a welcome reprieve—you shouldn’t get too comfortable. The road to compliance can take up to a year for some to travel. We’ve outlined some important milestones you’ll need to reach and how RGP can accelerate your journey.
Planning and implementing a successful journey to lease accounting compliance requires a wide range of cross-functional expertise. Our Lease Accounting Center of Excellence offers an end-to-end solution, including on-site, managed and outsourced lease accounting services.
Before hitting the road to implementation, you need a map of where you’re going. RGP’s skilled team can help you assess the impacts of your transition; identify gaps in policy, controls and technology, and design the future state process and system landscape. Take our “Readiness Survey” to learn what to plan for and how to avoid detours.
If your organization has more than 50 leases, you’ll need software to manage leases and perform complex accounting entries. RGP partners with industry-leading providers to make selection and implementation easier for you. Read our tip sheet on “10 Things to Look for in a Lease Accounting Software Solution” to get under the hood of the software that will make your Lease Accounting engine hum.
Finding and locating lease contracts and embedded leases, plus extracting all the necessary data can take longer than you think. Our team can help you gather, abstract and validate data from various business units and geographies. Check out RGP’s “Lease Accounting Implementation Timeline Calculator” to get a sense of whether it’s time to hit the gas.
Allocating the appropriate resources, applying proper project management and selecting an experienced implementation partner can lead to successful adoption and sustained compliance. RGP LaunchPM™ has combined our proven project management framework with best-in-class, customizable software to accelerate your business.
With locations in the US and Canada as well as Europe, a global Fortune 500 healthcare technology and pharmaceutical distribution company faced multifaceted challenges in adopting the new lease accounting standards.
Learn how RGP helped a multinational food processing and marketing leader with a $450M lease obligation and 10k+ assets comply with the new standard.
Discover more of our latest thinking, perspectives on Technical Accounting and more.