Interactive tool creates custom project plans around FASB and GASB compliance target dates, and guides companies through every step of the process
Visual Lease, the leader in lease accounting and management software, today announced its newly available Lease Accounting Milestone Planner™ (LAMP™) tool to help companies prepare for important tasks leading up to ASC 842 and GASB 87 compliance deadlines.
Read More: SimCorp hires Jakob Højland as Commercial Director for Cloud Services
The Lease Accounting Milestone Planner™ provides a clear, built-out schedule of required tasks ahead of compliance, along with curated, informative resources to assist in planning. Further, overall LAMP™ results can be exported in a downloadable format and dates can be added directly into calendar systems. A self-service version of the tool can be accessed by any company working towards lease accounting compliance or users can elect to leverage an expert consultant to assist with their company’s LAMP™ output.
“It takes a lot of time and effort to prepare for lease accounting, and with the changing compliance deadlines, the Lease Accounting Milestone Planner™ helps companies confidently work towards their goal with a structured, identified timeline,” said Clark Convery, COO at Visual Lease. “We developed this tool to provide companies with guidance and clarity needed to stay on top of necessary tasks ahead of their lease accounting deadlines.”
The design of the interactive tool was informed by Visual Lease partners RSM and Grant Thornton, as well as other industry experts, and embeds knowledge from helping more than 700 public and private companies successfully reach compliance. “Organizations are responsible for a lot of planning ahead of the lease accounting deadline,” said Daniel Beil, Technology Consulting Partner of RSM US LLP. “Knowing when to take action is critical to successfully reach their goals. The LAMP™ provides insightful information needed to prepare on time.”
