Tackle Your Lease Accounting Requirements

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Manage your business/non-profit lease reporting & gain management insights.
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Deadline: January 1, 2022

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Accounting for operating leases (ASC 842) deadline is coming for private companies and non-profits. And while you might even be tempted to avoid lease accounting all together and have your CPA include a modification to their report on your financials, that’s not a good idea.

Complete your implementation ASAP so you can resume 'business as usual'.

Customized Solutions to Meet Your Needs

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We love helping businesses and non-profits get ready for and meet the ASC 842 standards. Explore the solution that is the best fit for where you’re at now.

Whether you need a little help or a lot, we’ve got you covered!

Lease Coach

You’re confident in your implementation plan, but just need a little help pushing through.

Your Lease Coach gets you…

  • Experts on call in case you have any questions or need help making tricky decisions
  • Technical or practical help on whatever tools you’re using to deal with your leases
  • “Busy” work for you as you needed to help meet crucial deadlines
  • Extra training, plus CPE opportunities!

You need some more structure and help managing a complex implementation.

Your Lease Concierge gets you…

  • Everything you get from a Lease Coach, and more!
  • A detailed consultation and implementation plan to get you started
  • Formal training on the standards and optional software training
  • Guidance on lease data extraction and analysis
  • Data entry and review
  • Ongoing technical and accounting support for your project
  • Optional advanced approvals policy document creation
  • Optional disclosures and reporting creation
  • Optional automation tools to streamline your process

Lease Concierge

Lease Suite

You need on-demand advice and strategies to help achieve your goals and plan for your future.

Your Lease Suite gets you…

  • Everything you get with a Lease Coach + Concierge (see above)
  • We help you pick the best software environment for you, and then set it up
  • Complete your implementation with us
  • Customization of the tools that will integrate with your systems for efficient automation
  • Support for your project’s ‘go-live’ with formal training
  • All-in-one solution to accomplish your implementation goals

Not sure what you need? We'll help you decide.

What You'll Get

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Not only will you be compliant but have better insight into your lease expenses and improve overall systems & processes.
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Find your data

Don’t miss a single step in your setup and have it done in a timely manner
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Save money

Renegotiate contracts and establish better terms
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Achieve compliance

New lease requirements are not going away
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Be audit ready

Everything your auditors need prepped and ready to go
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Set yourself up for success

Get documented systems in place

Our Process To Working With You

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STEP 1

Discovery call to see where you are at and learn your goals for organization (last about 1 hour).
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STEP 2

LSL team puts together customized proposal detailing our recommended solutions and options.
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STEP 3

LSL meets with you to discuss recommendations and options.
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STEP 4

Once you accept, we get to work!

Webinar On-Demand

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In case you missed it: access the ‘Lease Accounting for Private Companies & Non-Profits: Guide to Implementation’ on-demand webinar recording. LSL Partners, Mike Mangold, CPA and Gail Gray, CPA help you ‘slay the dragon’ of the new lease standard, ASC: 842, requiring private companies and non-profits to track and disclose their leased assets. They’ll provide you an overview of the lease reporting requirements and how to start preparing to meet the deadline, including:

  • Defining qualified leases and determining lease term
  • Understanding your lease portfolio, digging through your data and finding pesky leases
  • Choosing how you want to handle the complex calculations that are required to be reported and monitored
  • Demonstrating how software technology can reduce time and risk to effectively comply

Are you a CPA?

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We can assist you with preparing your clients’ ASC 842: Lease Accounting reporting requirements, like finding operating leases “hiding” within business contracts.

ASC 842: Lease Accounting needs your attention ASAP

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Finding financial and operating leases hidden within contracts in your company’s files
takes time, but it is crucial.