Preparing For The New Lease Accounting Standards
If you are not comfortable with your current level of readiness for the new lease accounting standards, thoughtful planning, simple steps, and good communication can replace initial fears with a plan for compliance.
PSG is actively involved with helping clients implement these new guidelines and have plans and resources at the ready. Let us help you collect your leases, get your database set up and document business decisions necessary before these guidelines go into effect. 2019 will be here sooner than you think! Request a copy of our FASB eBook or just AskPSG for a free consultation.
Tips For Getting Started
Organize ALL Lease Files
Extract Key Data & Rent Streams
Populate a Non-Proprietary Database
Perform Tests: Classify Leases as Operating or Finance
Coordinate Assumptions & Process w/Finance