LEASE ACCOUNTING: KEY FEATURES & FUNCTIONALITIES TO LOOK FOR IN SOFTWARE FOR COMPLIANCE & INTERNAL CONTROL

Key Features & Functionalities to look for in Lease Accounting Software for Compliance & Internal Control: Because of enormous disruption in business and economy caused by a global pandemic, adoption of Lease standard ASC Topic 842 may be further delayed,…

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Key Features & Functionalities to look for in Lease Accounting Software for Compliance & Internal Control: Because of enormous disruption in business and economy caused by a global pandemic, adoption of Lease standard ASC Topic 842 may be further delayed, But it may be best for private companies or private non-profits to go for voluntary adoption so that they can be future-ready. Complications involved in Lease Accounting and it’s standard would require every such company or accounting firm that helps or advise clients to use specialized software for the same. This presentation will provide an overview of the key features and functionalities to look for when selecting a lease accounting software. We will discuss how companies can leverage technology to automate and overcome the complexities of transitioning and sustaining compliance. Learn how the right software can assist with journal entries for transition and month-end close, as well as assist with compiling information for accurate and efficient internal and external financial reporting. Finally, understand how technology can offer assistance with implementing appropriate internal controls.How to use Technology Platform best to be compliant and also to automate.Practical Implementation Matter Related to Systems, IT & Software.Why early adoptions is advisable.

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