Lease Accounting

Complex accounting simplified through our managed lease accounting services

The process of implementing lease accounting rules requires a lot of time and resources to properly comply with the lease accounting standards which can take up to several months. To help you with adoption and compliance of ASC 842, including ongoing maintenance and proper reporting of your lease contracts, Dean Dorton offers lease accounting managed services. We partner with LeaseQuery software to provide a world-class solution.

Using the power of LeaseQuery’s cloud-based software, as well as the technical expertise of our CPA professionals at Dean Dorton, we are able to offer an efficient and affordable managed services solution that will provide our clients with lease accounting calculations and timely reporting. This service is structured so that we remain independent from any other audit or attestation projects we may be performing in addition to these services. 

Benefits of using Dean Dorton’s managed lease accounting services in conjunction with LeaseQuery:

  • Fully Compliant with ASC 842, IFRS 16, and GASB 87

    • Feel confident in the your current and future lease accounting entries with LeaseQuery’s proven track record backed by SOC 1 type 2 Report and Agreed Upon Procedures Report
  • Pre-Built Disclosures for Quarterly and Year-End Reporting

    • Save time compiling lease disclosures for quarter and year end
  • Flexible Reporting Studio for Ad Hoc Reports

    • Easily create any additional reports from any data point in the system
  • Full Amortization Schedules for Lease Liability and Right of Use Asset

    • Easy to understand schedules with full detail required
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Managed Lease Accounting Services

Excel is a robust tool for a great many things. Lease accounting isn’t one of them. Although Excel may have worked to achieve compliance, relying on it for accurate lease accounting beyond the compliance deadline opens your business up to future risks. Whether you have five leases or 5,000, accounting for leases under the new standards involves complex calculations and several new reporting requirements for all public and private companies, and government entities.

Dean Dorton’s lease accounting managed services solves this challenge while analyzing your data for insights and possible savings. You can rely on our in-house accounting expertise and LeaseQuery’s software to comply with confidence across various FASB, GASB and IASB accounting standards.

Lease Accounting Insights

The guidance for lease accounting is maintained by the Financial Accounting Standards Board (FASB) in the United States, the International Accounting Standards Board (IASB) internationally, and the Governmental Accounting Standards Board (GASB) for state and local entities in the United States.

Even if you’ve heard about the new standards for lease accounting, you may not understand what they are exactly—or how the changes affect you.

Contact us to get all the answers and stay compliant.

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