Lease Accounting and Administration: Why You Need Both
The new lease accounting standards (ASC 842, IFRS 16, GASB 87) are not just a one-and-done disclosure. They usher in a new approach to accounting that includes an ongoing, cross-departmental effort – and, a much higher level of scrutiny.
It is not possible to maintain lease accounting compliance with a large lease portfolio without accompanying technology that supports both lease accounting and lease administration.
In this whitepaper, we break down why accountants need to have lease administration technology to:
- Maintain lease accounting compliance
- Centralize complex, dynamic lease portfolio data
- Easily track cross-departmental changes to leases
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