Dot the i’s and cross the t’s—a deeper look into ASC 842 adoption

by | Aug 24, 2021

RECORDED WEBCAST  | 

Download webcast slides

Your company is implementing the new ASC 842 lease accounting standard and you want to ensure success. RSM is pleased to provide our insights into how to plan for a successful adoption. In this webcast, we will focus on the high-risk areas and answer some of your last-minute questions regarding initial adoption as well as planning for ongoing accounting. This session is not a high-level overview; instead, we’ll quickly dive into many real-world implementation questions that we’re seeing middle market companies have as they adopt the new standard.

Many have asked what “correct” looks like for 842 adoption. Let us help you demystify some of this as well as focus on some high-risk areas such as:

  • Completeness of the lease portfolio
  • Abstraction
  • Documentation of the implementation including key decision and judgments

Following this session, you’ll walk away with a more detailed understanding of what it takes to adopt the ASC 842 lease accounting standard.

A recording of this webcast is available to view below.

Our presenters


Kristin McLaughlin

Partner


Kirk Rogers

Partner

Questions or Want to Talk?

Call us directly at 972.221.2500 (Flower Mound) or 940.591.9300 (Denton),
or complete the form below and we’ll contact you to discuss your specific situation.

This article was written by RSM US LLP and originally appeared on 2021-09-28.
2021 RSM US LLP. All rights reserved.
https://rsmus.com/events/dot-the-is-and-cross-the-ts-a-deeper-look-into-asc-842-adoption.html

RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. The RSM(tm) brandmark is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.

 

RSM

KHA Accountants, PLLC is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.

Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise, and technical resources.

For more information on how KHA Accountants can assist you, please call 972.221.2500.

Bakes Takes Volume 1, Issue 9

Dec 3, 2024

This month’s Bake’s Takes explores the science of persuasion, the art of selfless networking, and the journey to relishing networking. Learn how to use principles of persuasion, build an effective network, and find a higher purpose in your networking endeavors. This curated list of reads presents an invaluable opportunity for leaders aiming to refine their strategic approach and drive impactful results.

Bakes Takes Volume 1, Issue 8

Nov 5, 2024

This month’s Bake’s Takes presents three powerful reads that discuss overcoming anxiety in high achievers, traits of effective teams, and reasons why leadership teams fail. It provides actionable advice on how to avoid mental traps, foster healthy collaboration, and elevate mediocre teams to high performing ones. Dive in to gain a fresh perspective on leadership challenges and strategies.

Attestation Services: An Introductory Guide

Nov 4, 2024

In today’s business world, trust and transparency are non-negotiable. Discover how attestation services can enhance your company’s credibility by providing independent verification of your financial information. Read our essential guide to learn how these services can drive business success and foster stakeholder confidence.

What do You Want… Really?

Oct 22, 2024

How you plan for retirement today can significantly affect your future. This article explores the implications of current decisions on future outcomes, and how the KHA team can help align your actions with your aspirations. Let’s start shaping your future today.

Will your Business Last Beyond You?

Oct 8, 2024

Ensuring business longevity involves intentional succession planning. Explore how KHA’s Dynamic Business Advisory program helps you identify strategic gaps and build a lasting legacy. Are you ready to think generationally?

Bake’s Takes Volume 1, Issue 7

Oct 1, 2024

Dive into the world of strategic consulting with Jonny Baker’s “Bake’s Takes”, featuring a careful selection of insightful reads from the fields of team dynamics, conflict resolution, and decision-making. This edition explores the true meaning of teamwork, the importance of healthy conflict in management, and introduces the innovative “RAPID” decision-making method. A rich resource for leaders seeking to create vision, alignment, and execution.

Are you a CEO or a Firefighter?

Sep 24, 2024

Are you a business owner stuck in the firefighting mode, rushing from one crisis to another? Discover how KHA Strategic Consultants can help you transition from a reactive approach to proactive strategic planning.

Can You Attract Top Talent?

Sep 10, 2024

In the battle for top talent, 75% of companies struggle to fill positions, giving the onus to firms to differentiate themselves. This article outlines four key attributes successful firms possess.

Bakes Takes Volume 1, Issue 6

Sep 3, 2024

Explore the top three reads recommended by KHA Consulting’s Jonny Baker in this month’s Bake’s Takes. From understanding how new CEOs establish trust, to leveraging your strengths for greater impact, and spotting talent in the modern era, these articles offer essential insights for today’s leaders. Don’t miss out on these refreshing perspectives designed to push your thinking and enhance your leadership effectiveness.