How to Prepare Now for the Coming Lease Accounting Changes
Companies Will Need 6-18 Months to Create and Implement Processes and Systems To Comply with the New Standard
Capture Significant Savings as an Added Benefit of the Comprehensive Compliance Process
Covers financial, tax, and operational impacts on equipment and real-estate leases and explains how to prepare and manage them
Describes how to create and maintain a database of documents and data in order to ensure completeness, accuracy, and auditability of data
Explains how to use LeaseAccelerator, an asset-based lease accounting and portfolio management software for lessees, across your enterprise to simplify the process
In This Issue
It feels like 1998 and 2002 all over again – when the finance community last faced the threat of imminent deadlines, related to Year 2000 implementation and Sarbanes-Oxley compliance, respectively. The ambiguity, pressure, impedance, and anxiety that we experienced then have all come roaring back. This time, it’s the deadline for complying with the new IFRS lease accounting standard changes that looms ahead of us.
Last week we published a new whitepaper on the coming lease accounting changes for equipment lessees. The official title is “How to Prepare Now for the Coming Lease Accounting Changes. Companies Will Need 12-24 Months to Create and Implement Processes and Systems To Comply with the New Standard. Companies Can Capture Significant Savings as an Added Benefit of the Comprehensive Compliance Process.”
Doug Slais joined LeaseAccelerator in October 2010 as Vice President, Client Services. With over 20 years of customer-facing leasing experience, Slais was well prepared to manage and grow LeaseAccelerator’s Client Services team, which administers international lessee programs.
Prior to joining LeaseAccelerator, Slais held various sales, sales management and marketing roles at National Semiconductor, AT&T Capital, The CIT Group, and Somerset Capital Group.
What, specifically, does your team do?
In a nutshell, we are responsible for saving money for our lessee clients. On a transaction-by-transaction basis, we support our clients’ equipment leasing processes globally, including:
- Lease vs. Buy modeling and consulting
- Request for Proposal development
- Recruiting, engaging, supporting lessors
- Helping clients analyze bids using our Proposal Analysis and Ranking tools
- Transaction structuring and documentation management