Detailed steps to transition to the new lease accounting standard

Private companies are either in the process of implementing the new lease accounting standard, ASC 842, or they are preparing for the transition.

ASC 842 Transition Checklist

With the shift to the new standard comes many considerations, and so we have assembled this checklist to assist you in your transition journey.

Use this checklist to:

Create an inventory of leases

Research lease accounting solutions

Develop an implementation plan