Lease is an agreement that conveys the right to use property generally for a specific period of time in exchange for money or some kind of assets. Lease Accounting is not just a one-time scenario and requires compliance even after the deadline is served. Non-compliance with latest Lease Accounting standards by FASB can result in declining reputation in the market along with the penalties.
Thus it demands a highly acknowledged CPA who is aware of the changes in the law and rethinks all the processes in real time to remain compliant with the transformations.
Is your enterprise prepared for the changing regulations of Lease Accounting?
Joyce CPA LLC understands that the new leasing standard expects you to be more transparent which requires an effective assessment throughout, where our firm can help you with. The new standards will be detected on the basis of financial statements. CPAs will be filing the balance sheets with many new faces making an inexperienced CPA fall short.
Why Joyce CPA LLC?
Our Lease Accounting Services foster compliance as per new leasing standards while meeting the deadline. We also undergo thorough examination of the lease portfolio in order to avoid penalties and to remain compliant with the standards. Our years of experience, enables us to provide you with the end-to-end Lease Accounting Services.
Gathering data: As per new standards CPAs are required to gather, track and report all the contracts that come under lease contracts. Our team thus ensures accurate data recognition and management in minimum time period while maximizing quality.
Redesigning Processes: We seek to transform your operations and processes into a more managed and centralized working environment. A continuous accounting and reporting system will also be established and mandated.
Managing Lease: Our experienced team also caters help to the organization while managing their lease accounting besides helping them while implementation process.
Please feel free to get in touch with us here.