ValuD: Are you already late for the FASB game?

It is important to note that public companies must include at least 3 years of information in their financial statements to meet the new FASB leasing standards. That means, if your organization has a substantial lease portfolio, you will need to effectively transition your accounting process in 2016 itself to become fully compliant by 2019, which is when the FASB leasing standards are set to apply…

As can be seen from the process overview, implementation of a new lease accounting software comes with its own share of operational challenges, not to mention the vast amount of time involved. It’s estimated that the entire process — from data gathering to deployment — might take as many as 24 months, thereby making the choice of a lease accounting system all the more significant right now. It’s also incredibly important that you find a trustworthy implementation team who can help spearhead the complex task and usher your organization toward FASB compliance.

At ValuD, our team has worked with multiple clients to prepare them for the shift in lease accounting standards. We fully believe that the industry-leading IBM TRIRIGA can provide the perfect solution for all matters related to FASB compliance. Our experts at ValuD are ready to help you through the entire process and ensure that you are on track for your FASB compliance goals…

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