Readiness Assessment Leasing
While the new leasing standards (ASC 842 and IFRS 16) tell you what you need to do with regards to reporting and managing your lease portfolio, they don’t tell you how to get there. You would need answers to questions like:
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How will I get all my data into my system?
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How can I ensure that my finance system and lease accounting are in sync?
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Who needs to be part of this and how much time do they need to dedicate?
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What are other companies doing?
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Will I be able to get the data I need for disclosures and reporting?