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Top 4 Benefits of Outsourcing Your ASC 842 Lease Accounting Solution

Complying with the new lease accounting standard (ASC 842) should not be a costly, time-consuming endeavor. The ideal lease accounting solution enables a company to comply with ASC 842 while, in parallel to improving efficiency and minimizing costs, allowing clients to focus on their core businesses.

The following are four benefits that leading consulting firms like Dacarba LLC, an Opportune LLP company, can offer to clients when providing outsourcing lease management and reporting solutions through a turnkey service.

1)  Immediate output from a proven, reliable source:

Dacarba’s outsourced centralized solution for lease agreements provides document management, archiving, journal entries and reporting from Nakisa, an industry leader in lease accounting solution.

2)  Minimal impact to current lease management process:

Outsourcing reduces clients’ need to significantly reorganize their current organization and processes to centralize data under a self-implementation approach.

3)  Lower cost to implement and execute:

Elimination of software licensing, hardware, IT, audit and accounting personnel costs, which can provide a savings of between $250,000 to $300,000 per year.

4)  Experienced professionals focused on the ASC 842 lease standard:

Dedicated Dacarba subject matter specialists on the lease standard and operation of a complex software solution. 

How to Get Started

Contact our Complex Financial Reporting professionals below and we will initiate the introduction of our technical reporting and process teams to assess your current state of lease aggregation, complexity and requirements.

 

 

Reid BrooksDirector

Reid is a Director in Opportune’s Complex Financial Reporting practice. Reid has over 10 years of experience with technical accounting providing clients across the energy sectors with technical research and SEC reporting assistance. Before joining Opportune, Reid held positions of increasing responsibly at ONEOK, Inc. in Tulsa, Oklahoma. Reid Brooks is a Certified Public Accountant (CPA) licensed in the state of Oklahoma and member of the American Institute of Certified Public Accountants.

Kristin Floyd NewtonManager

Kristin is a Manager in Opportune’s Complex Financial Reporting practice. Kristin has worked on a variety of projects, including revenue recognition and lease accounting implementations, transaction advisory services and other technical accounting research projects. Prior to joining Opportune, Kristin worked at the Financial Accounting Standards Board (FASB) and served as a member of the team leading the FASB’s revenue recognition efforts. Kristin received her undergraduate degree and Masters in Accounting from Texas A&M University and she is a Certified Public Accountant licensed in the State of Texas.