ASC 842, Five Years Later: Lessons from the FASB Review

Five years after Topic 842 changed the lease accounting landscape, the FASB has released its post-implementation review of the standard. The findings confirm what many accounting teams already know: the standard delivered better visibility into lease obligations, but implementing and maintaining it has been more complex than expected. Join us as we break down the key takeaways from the FASB’s review and what they mean for finance teams and CPA firms supporting lease accounting today. We’ll explore where companies are still struggling, why certain areas of the standard continue to create challenges, and how firms can streamline lease workflows now that adoption is behind them. We’ll also share practical strategies and a few product tips for simplifying ongoing lease management, so teams spend less time wrangling lease data and more time focusing on analysis and reporting. After attending this webinar, participants will be able to: • Identify the key findings from the FASB post-implementation review of Topic 842 • Recognize the most common areas of complexity in ongoing lease accounting • Understand how improved lease data management and controls impact financial reporting • Apply practical strategies to streamline lease accounting workflows and reduce ongoing effort