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Learn more about the ASC 842 Power Play
ASC 842 Power Play
for Private Companies
A Proven Playbook from Kickoff to Compliance
Grant Thornton’s lease playbook clearly outlines each step to reach compliance and is packed full of resources to support you along the way.
A playbook backed by experience & results
About Visual Lease
Visual Lease is the #1 lease optimization software provider. We help organizations become compliant with FASB, IFRS and GASB lease accounting standards, while simultaneously improving the financial, legal and operational performance of their leases. Our easy-to-use SaaS platform is embedded with more than three decades of best practices from major corporations and leading industry professionals.
Our award-winning solutions are used by 1,000+ organizations to manage 500,000+ real estate, equipment and other leased assets. Committed to ongoing innovation and unparalleled customer service, Visual Lease helps organizations transform their lease compliance requirements into financial opportunities.
Powerful Lease Accounting
Solution for Complete Confidence
Visual Lease makes easy-to-use software that helps teams transition to ASC 842, maintain compliance through day 2, and optimize lease spend.
Proven Success
With over 400 successful lease adoptions, Grant Thornton has seen it all. Between inefficiencies, errors, and restatement concerns, leasing will be at the center of discussions during your year-end audit. This methodology is proven to ensure success.
Unmatched Technical Expertise
Grant Thornton’s Leasing Center of Excellence goes unmatched in the market. With a former Financial Accounting Standards Board (FASB) member and two former FASB staff critical to the issuance of ASC 842, we have knowledge and insight into the guidance that will ensure you are confident in your reporting.
Efficient & Effective
Adoptions can take significant time and resources even with the right plan in place. We’ve seen companies take this on internally and waste resources due to lack of direction, misunderstandings, and increased audit risk. Using this playbook can save you time and money:
One-click compliance
Generate automated journal entries and reports for month-end close and disclosures for audit with ease. Calculations are transparent and included in a SOC I Type II audit for accuracy and peace of mind.
Tools for cross-functional teams
Ensure completeness and consistency with integrated lease management tools that centralize your leases and maintain accurate data across teams.
Tools for Day 2
Automated alerts ensure you never miss another dollar on options and make it easy to manage remeasurements.
Tools to connect your tech
Automated exports and real-time API integrations to connect your ERP, General Ledger, BI tool, and anything else.
Support included, never extra
Dedicated implementation resources, on-demand training, and expert ongoing support sets customers up for success – and sets Visual Lease apart.
Kickoff
Learn how to get started, identify a project lead and introduce potential stakeholders to ASC 842.
Identify All Leases
Assess your lease population and define your approach to identifying known, and most importantly, unknown leases.
Implement Technology
Import your data and configure Visual Lease to streamline your work and ensure completeness, consistency, and easy adoption.
Analyze Lease Data
Develop an efficient adoption strategy to make practical expedient and policy elections early in the process and use our trainings, trackers, templates and checklists to extract the correct lease data and ensure accuracy.
Design and Document
Utilize draft memos to document your compliance from adoption and going forward, and consider Day 2 plans.
Complete Adoption and Go-Live
Finalize your reporting, leveraging Grant Thornton’s disclosure guidance, and feel confident and prepared for your audit.
Tony Dinola
Partner,
Transformation
Matt Esposito
Partner, Accounting
Advisory Services
Lisa Kaestle
Director, Accounting
Advisory Services
Ellen Martin
National Managing Partner,
Strategic Federal Tax Services