In February 2016, The FASB and IASB issued ASU 2016-02, Leases (Topic 842) and IFRS 16, requiring nearly all leases to be reported on lessee's balance sheets as assets and liabilities. The ASU on leases will take effect for public companies for fiscal years beginning after December 15, 2018. For all other organizations, the ASU on leases will take effect for fiscal years beginning after December 15, 2019. Early application will be permitted for all organizations. AccountLease AccountLease is a full-service, end-to-end solution that helps companies comply with ASU 2016-02, Leases (Topic 842) for US GAAP and IFRS 16. AccountLease™ combines the accounting expertise, real estate knowledge, and software necessary for companies to comply with the new standards. The full-service solution offers: - Review of lease inventory - Input leases into the software - Developing abstracts with key terms - Input from regional Cresa offices on local market conditions - Drafting of 10-K and 10-Q disclosures - Senior level quality control - Quality control review and summary of financial statement disclosures - Review of results with the client’s independent accounting firm. Deadlines are fast approaching! Contact AccountLease today to learn more! accountlease@cresa.com