A Healthy Dose of Lease Accounting

April 2, 2021
< 1 Minute Read

Our Fortune 10 healthcare client needed expert guidance and implementation support to comply with the new ASC 842 lease accounting standard across their global enterprise.

With a client relationship defined by co-creation, collaboration and expert knowledge of our client’s business, RGP brought together the right people to meet the challenge. Based on a deep understanding of our client’s business environment and unique culture, our team effectively tackled complex compliance challenges through a global LeaseAccelerator software implementation and project management support.

What We Did

  • Aligned project goals around business objectives and the needs of people impacted by implementation of the new standard.
  • Partnered with LeaseAccelerator to offer global project governance, project management and software implementation support, data abstraction and validation, future state processes and audit preparation.
  • Successfully completed system implementation, process flow and design, data collection, validation and migration activities, and integration with key financial systems such as SAP, CoStar, PeopleSoft and BlackLine.
  • Mobilized globally to provide post-implementation and ongoing project management and change management support, as well as end-user training.

Impact

  • Building on our relationship and knowledge of our client’s implementation challenges, we expanded our lease accounting reconciliation support and other financial reporting execution with 11 additional consultants.
  • Transferred lease software and technical accounting expertise to help our client continue generating benefits from the project.
  • Successfully completed more than 750 million journal entries in LeaseAccelerator, covering all our client’s leases for the entire life of the lease.

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