Complex accounting simplified through our managed lease accounting services
Lease Accounting
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.
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
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.
Annual Deliverables
Generally, our scope for managed lease accounting services includes the following, however, depending on your specific situation we can offer even more advanced solutions:
- Accurate lease accounting calculations annually
- Reporting in compliance with all regulatory standards
- Lease contract analysis
- Initial upload and input into LeaseQuery database
- On-demand reporting for your lease portfolio, including calculation and disclosure support
- On-going portfolio maintenance and updates for contract amendments and/or modifications
Lease Accounting Managed Services Cost
The pricing for our managed lease accounting service solution varies based on the complexity and volume of leases within your portfolio. The accounting standards within Topic 842 are complex and require a thorough and coordinated approach. We will diligently work and communicate with management to understand the nature of your lease contracts and evaluate any potential roadblocks and areas requiring specific technical expertise in order to develop a fee estimate that is customized exclusively for your needs.
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.
WHY DEAN DORTON?
Benefits of Partnering with Dean Dorton for Lease Accounting Managed Services
We have experience helping clients implement lease accounting standards throughout the United States, from small private companies to large public organizations
We have deep expertise in understanding ASC 842, IFRS 16, and GASB 87 compliance and lease management – including specific industry impacts
We ensure a seamless implementation of LeaseQuery software and ongoing support to provide you the lease accounting information you need timely and accurately including automatic triggers and audit trails
