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Lease Accounting Guide for Private Companies 

Implementing the New ASC 842 Lease Accounting Standard

The new ASC 842 lease accounting standard, has become effective for private companies for fiscal years beginning after December 15, 2021. For calendar-year-end companies, adopting ASC 842 requires practical implementation plans to, for the first time, account for operating leases on the balance sheet.

Our Lease Accounting Guide for Private Companies provides real-world insights to help private companies meet their lease accounting requirements, including:

  • Creating an effective framework for ASC 842 compliance
  • Choosing the most suitable adoption and reporting method for your company
  • Key lease standard provisions, concepts, and terminology
  • Selecting the most effective discount rate for your company
  • Choosing practical expedients available within the lease accounting standard
  • Software considerations to streamline ASC 842 adoption

About Sensiba San Filippo

Sensiba San Filippo (SSF) is a licensed, award-winning tax, audit, and consulting firm that has been in business for over 40 years. We provide a scaled approach to meet your needs from supporting your internal team with consulting and guidance, to fully outsourced lease accounting implementation and administration – and everything in between. For more information about our lease accounting services, reach out to our team at info@ssfllp.com.

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