Service

Lease Accounting Service

An outcome-based solution to your latest lease accounting challenge

 

 

 

David Brown

David Brown

Principal, Advisory, Managed Services, KPMG US

+1 314-803-5369

Jorge Blanco

Jorge Blanco

Principal, Advisory, KPMG (US)

+1 212-872-2173

Tom Wilde

Tom Wilde

Principal, Advisory, Government Lead, KPMG (US)

+1 703-286-8490

Summary

Preparing for the upcoming deadline for the Accounting Standard Codification (ASC) 842 issued by the Financial Accounting Standards Board (FASB) will be a strain on your resources and adopting a new system could take significant time to implement. Based on our experiences with public companies implementing these solutions to comply with the new requirements, we have learned that it can be a complex challenge that may require major changes to systems and processes.  

Preparing for the upcoming deadline for FASB ASC 842 will be a strain on your resources, and adopting a new system could take significant time to implement. Based on our experiences with public companies implementing these solutions to comply with the new requirements, we have learned that it can be a complex challenge that may require major changes to systems and processes.  

KPMG Lease Accounting Service helps remove the burden and uncertainties that come with lease accounting compliance. A combination of purpose-built software and behind-the-scenes data optimization, our lease accounting offering helps you meet FASB ASC 842 requirements—quickly and efficiently.

Benefits

Simple implementation, robust capabilities

Designed for accountants of private companies, our KPMG Lease Accounting Service follows a simple process:

 

Case studies


Tested, purpose-built technology

We utilize the KPMG Leasing Tool (KLT), a powerful computing engine used by Fortune 500 public companies, purpose-built for the latest lease accounting requirements. Developed by KPMG accountants for accountants, KLT performs a broad range of deep calculations—factoring contractual terms, amortization schedules, discount rates, foreign currencies, dual reporting and other variables—to produce detailed financial reports, disclosures, and journal entries for compliance reporting.


Backed by a team of lease accounting professionals

KPMG Lease Accounting Service and KLT are based on decades of experience helping organizations navigate accounting changes. In addition to the leading practices and methodologies built into the service and tool, KPMG professionals bring valuable insights from our experience helping public companies adopt ASC 842.

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