Adopting the new lease accounting standards

Sweeping transformation of the current lease accounting model has been finalized, affecting all companies to varying degrees, across all sectors, in the US and internationally. The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) have issued ASC 842 and IFRS 16, respectively, creating new lease accounting models that are not completely converged. The Standards impact both lessors and lessees, with significantly greater impact to lessees. Explore the resources here, which will be continually updated with new developments, to help you transition to the new leasing standards.

Straight talk on leasing video series (trailer)



From lease agreement to insight





Benefits of a data-driven approach

Data collection and subsequent analysis is a critical phase of the effort to implement the new leasing standards. PwC has developed a suite of transition tools to accelerate the extraction, validation, modeling, and reporting of data within a lease portfolio. These tools leverage advanced technologies and deep accounting and industry knowledge to translate lease agreements into insights. Check out the brief video above ("From lease agreement to insight") for more details, or download a PDF describing PwC's suite of lease accounting transition tools.


Contacts

Henri Leveque

Capital Markets & Accounting Advisory Services Leader, PwC's Deals Practice
Tel: +1 (678) 419 3100
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Chad Kokenge

Partner, Deals, Accounting Advisory Services Leader
Tel: +1 (646) 471 4684
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Sheri Wyatt

Partner, Deals, Accounting Advisory Services
Tel: +1 (312) 298 2425
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