ATLANTA – (August 23, 2018) – The new GASB 87 lease accounting requirements take effect for government and public sector organizations beginning December 15, 2019. While this deadline seems distant, after witnessing the pressure financial executives have felt in the race to meet FASB standards, organizations tasked with GASB 87 compliance are starting their adoption process now and turning to PowerPlan’s Lease Readiness Checklist as a starting guide.
“Organizations are facing the challenge of not knowing the exact number of leases they need to account for on the balance sheet,” said Dillon Blakes, Senior Product Manager at PowerPlan. Because of the uncertainty behind the process, organizations can leverage PowerPlan’s checklist to create a working plan toward adoption. “This resource guides accounting teams through the compliance process in a sequential method, enabling a seamless transition to GASB 87,” added Blakes.
PowerPlan has helped organizations manage complex operating and capital lease accounting for more than15 years. PowerPlan’s Lease Accounting software is a leading solution for government and public sector organizations. To download PowerPlan’s Lease Readiness Checklist, visit: https://info.powerplan.com/l/107062/2018-08-20/32nx2l/107062/82515/PowerPlan_GASB87_Readiness_Checklist_REV180817AD.pdf.
About PowerPlan: PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance. For more information, email firstname.lastname@example.org or visit www.powerplan.com.
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