Recent surveys from EY, PWC and Deloitte highlight that many public companies have found significant challenges in the successful transition to the ASC 842 standard. The transition has taken more time and effort than anticipated for most.
Private companies are required to comply by the end of 2020 and should consider applying the lessons learned from the experiences of the public companies when starting their ASC 842 implementation efforts. iLease Management, LLC has recently published a guide to help private companies understand the key provisions of the changes and the path to a successful transition to the ASC 842 Lease Accounting Changes.
iLease Management, LLC has been dedicated to providing research and technology, iLeasePro, assistance to help companies comply with the complex changes of the ASC 842. Please feel free to reach out if you need help.