Save Time & Money:
ASC 842 Adoption Tool

ASC 842 Adoption Too

Save time and complex, labor-intensive analysis by letting our lease modeling tool generate the accounting journal entries now required for leases under ASC 842. Simply enter key lease details and our proprietary model applies the new standard to generate the required financial reporting and compliance data.

Priced at $1,500, this is a cost-effective solution for small to mid-sized companies seeking to be in compliance with ASC 842. Step-by-step training video included. 

WHAT IS ASC 842?

ASC 842 is a new standard published by the Financial Accounting Standards Board (FASB) for the accounting and financial reporting of leases. The new rule will require companies to make significant changes and enhancements to the systems and processes they use to recognize and report leases.

See How It Works

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THE BENEFITS

Comply with new ASC 842 requirements
Save hundreds of hours on modeling, analyzing, interpreting and reviewing lease information
Maintain flexibility to accommodate future leases and modifications, impairments and early terms of existing leases
Provide documentation for audit support
Take the guesswork out of applying new standard, minimizing costly errors or omissions during rollout
Provide a long-term solution for tracking and reporting ongoing lease liability, expense and amortization
Start Your Path to Compliance With ASC 842

HOW CAN MY COMPANY LEVERAGE THIS TOOL?

Calculate the entry to establish lease assets and liabilities and recognize the transition adjustment in retained earnings
Compute the monthly journal entry to recognize amortization, interest, and operating lease expense
Update lease amortization schedules and journal entries to account for any lease extensions, early terminations, asset impairments and other modifications in accordance with the standard