Compiling a lease inventory is the first step in an organization’s transition journey to the new lease accounting standard, ASC 842. It is one of the most time consuming and resource intensive parts of the transition as well. However, experience has shown that by breaking the task up into smaller steps, the process becomes more manageable and easier to accomplish.
Join us as our presenters will discuss from whom and when to obtain a lease listing, the importance of determining scope early in the process, how to determine underlying asset classes, why setting materiality is so important, and more to help aid the beginning stages of your transition process. LeaseQuery’s Director of Accounting Product Sarah O’Sullivan will also share personal experiences and insight from her prior role in leading a Fortune 500 company through transition.
Learning Objectives
- Learn simple steps for building your lease inventory
- Identify which leases are in scope under the new lease accounting standards
- Explore next steps to develop a plan for your transition
Date: July 26, 2022
Time: 1:00 – 2:00 PM EDT
