ASC 842 Lease Accounting Readiness Survey
Private companies will now need to implement ASC 842 in less than 12-months.
ASC 842 was recently implemented for publicly traded companies. Many of these companies found the implementation to be much more involved than they originally expected and as a result, they were less prepared than they thought they would be. Recording the Right of Use Assets and Liabilities on Day 1 is challenging, but only gets you to the starting line. The race begins Day 2 and beyond implementing the process to account for all new and existing leases.
Unfortunately, the focus of such implementations is usually placed on the large, publicly traded companies. We would like to receive your feedback to understand how this implementation is impacting privately held and nonprofit companies. We will share the results of the survey with the participants. If appropriate, we may also share the results with the rule-making committees to show how their decisions impact non-publicly traded companies.
Obtaining your feedback also helps us to better design our services to meet the needs of large and small companies. We would greatly appreciate you taking the time to complete the survey. It should only take about five minutes.
In return, please provide your email address when prompted for a chance to win a $5 electronic gift card if you take the survey by May 1st, 2019.