Financial Reporting

Lease Accounting (ASC 842)

Right-of-Use Asset & Lease Liability Compliance

ASC 842 requires most leases to be recognized on the balance sheet. We help you identify, measure, and account for operating and finance leases, maintain compliant lease schedules, and prepare required disclosures.

ASC 842 Compliance

Lease accounting done right

ROU Assets

Properly Recorded

Compliant

Lease Liabilities

Full

Disclosure Package

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Real Results: Client Success Story

Leases Identified

Previously off-balance

ROU Assets

$12.3M

Now on balance sheet

Audit Result

Clean

No adjustments

"Multi-location retail company with 47 operating leases scattered across different departments. We inventoried all leases, calculated ROU assets and liabilities using appropriate discount rates, set up perpetual tracking schedules, and prepared complete disclosures. First audit under ASC 842 was clean—auditors commended the documentation quality."

*Illustrative scenario. Lease values depend on terms, rates, and contract specifics. Audit outcomes depend on accuracy of underlying records and documentation.

Is This Right For You?

ASC 842 implementation is critical if:

You have operating leases for real estate, equipment, or vehicles

You're uncertain which contracts contain embedded leases

Lease calculations and schedules are incomplete or outdated

You're preparing for an audit or financial statement review

Lease modifications or remeasurements are needed

You need help determining incremental borrowing rates

Check 2 or more? You need ASC 842 implementation support. Proper lease accounting prevents restatements and audit issues.

ASC 842 Key Concepts

Identification

Lease Identification

A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration.