LeaseCrunch, an accounting software company specializing in helping clients with the Financial Accounting Standards Board’s (“FASB”) lease accounting standard, has highlighted the five mistakes companies are making when implementing FASB Accounting Standards Codification (“ASC”) Topic 842, Leases. Some of the mistakes involve not setting aside enough time to analyze real estate leases, overlooking hidden leases, and being unaware of the impact the standard will have on business.
Visit the LeaseCrunch website for more on advice on implementing FASB ASC 842. In addition, Cherry Bekaert has selected LeaseCrunch as the software platform to use for assisting clients transitioning to the new lease accounting standard. Learn more in the official press release.