Lease accounting


ASC 842 deadline is here for private companies


ASC 842 increases transparency and comparability of financial information by recognizing lease assets and liabilities on the balance sheet and disclosing related lease information. Initial implementation of ASC 842 can be challenging and time consuming it is vital to establish a robust, easily repeatable and compliance-driven process to meet the requirements effectively, which will minimize the workload going forward and maximize the value of insights gained on your lease portfolio and practices. ASC 842 is now effective for fiscal years beginning after Dec. 15, 2021 for all non-public entities, so the clock is ticking. Grant Thornton is ready to help you start today.


Master ASC 842 with our self-serve Lease Playbook


From kick-off to preparing for your audit, our self-serve Lease Playbook walks you through ASC 842 adoption step by step, with direct links to the resources you need. Watch our short video to learn how you can adopt ASC 842 with ease.


Insight into the full range of ASC 842 challenge


From lease identification and analysis to program design and system selection to tax consequences and other issues, learn what you need to know to meet the ASC 842 challenge.


As public companies move on to ongoing ASC 842 compliance issues, private companies begin their year one compliance challenge. Learn how your organization can move forward with confidence.


Get more lease accounting insights

Stay current with news and developments


Meet the team