KPMG: Intelligence engine helps companies meet FASB deadline


KPMG Spectrum’s “Leasing Tool” embeds the firm’s accounting expertise into innovative digital compliance platform

A deadline is looming for companies to comply with new Lease Accounting Standards. The changes introduced by the Financial Accounting Standards Board will require companies to account for most operating leases on their balance sheets as early as January 1, 2019.  The new rules will have a significant impact on any business that has commercial leases.  Yet, findings from a KPMG survey suggest that companies are vastly underprepared. Of the companies surveyed, 92 percent say they will need to implement a new IT system but 81 percent say they haven’t started.

Businesses are running out of time, but KPMG has created an innovative solution. The KPMG Leasing Tool for IBM TRIRIGA (KPMG Leasing Tool) helps organizations efficiently prepare for and adopt a longstanding system to comply with the new leases standards…

[Admin: This post is related to the 08.12.15 post about the KPMG Leasing Tool for IBM TRIRIGA.]

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