Service

Lease accounting

With a January 1, 2019 compliance deadline, you need a trusted advisor who can step in and help get your company quickly on track.

Helping you meet deadlines and capitalize on opportunities

KPMG is helping leading companies successfully implement lease accounting processes, policies and systems that bring them into compliance with ASC 842 and IFRS 16 standards. They also benefit from improved lease management capabilities, with a clearer understanding of their full leasing portfolios.

Knowing where you are -- and what challenges lie ahead

Whatever phase of the lease accounting compliance process you’re in, KPMG can act as your trusted advisor, helping you make changes that achieve compliance as well as improve how your company performs.
 

The 4 phases of lease accounting

Phase 1:

Assess
 

Phase 2:

Design
 

Phase 3:

Implement
 

Phase 4:

Sustain

You have prepared a thorough assessment report including analysis of your entire lease population, the policies, systems and information needed to comply with current standards, and data management requirements.

Your completed design roadmap outlines all business, process and technology requirements, identifies data management procedures, addresses policies, disclosures and training, and includes detailed implementation steps and timing.

You have developed technical architecture, configured system software, designed process, IT, and security controls, completed testing, conducted training workshops, launched new processes and systems and generated financial reports and disclosures.

With new lease accounting processes and systems fully integrated into operations across your company, you can manage your lease portfolio more proactively and respond agilely to future changes in accounting standards.


Benefits beyond compliance

As you adopt more effective leasing processes and policies, and become more able to mine leasing data, you’ll see vast improvements in visibility, lease-versus-buy decision-making, cost-efficient sourcing, and end-of-term management. In addition, having a centralized, effective lease accounting system means that, down the road, when more changes inevitably come, you’ll be able to comply with far greater ease.

The experience, insight, and tools you need--at the pace you need right now

Having formidable technical accounting skills combined with deep industry experience, your KPMG team stands ready to help you move quickly on all facets of lease accounting compliance.*

  • Technology consulting and selection of a lease accounting system—such our proprietary KPMG Lease Accounting Tool
  • Development of needed policies and processes across your organization
  • Lease abstraction
  • Implementation of new lease accounting policies, processes and systems
  • Tracking and management

* Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates

Related content

Leasing tool

Multiple FORTUNE 100 clients with complex lease portfolios are using the KPMG Leasing Tool to help meet ASC 842 and IFRS 16 standards.

Webcast: Implementing new leases standard

Date and Time: Tuesday, August 7, 2018, 12:00 p.m.-1:30 p.m. ET

Related issue

Financial Reporting View

A look at the FASB’s current standard from a KPMG Audit perspective.