Examine four growing trends in 2023, how they relate to ASC 842, and what can be done to mitigate their impact on lease accounting and financial reporting.
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What are the growing trends?
1. Challenges of interest rate volatility
2. Problems with ESG initiatives
3. Increasing rates of Accountant Burnout
4. ASC 842 now in effect for private companies
What Can Be Done Now?
Many companies are closing the books on their initial lease accounting solution in favor of a more automated platform. They’re aiming to save their accounting staff hundreds of hours of performing manual work in spreadsheets.
60 Hours
of manual JE uploads
100 Hours
of manual remeasurements
120 Hours
of manual reconciliations
160 Hours
of ad hoc business reports
Switch to CoStar Lease Accounting
Don't settle for a lackluster system. Our lease accounting software has the most advanced automation for ongoing ASC 842 and IFRS 16 processes.
