Sustaining compliance after day two requires a rigorous focus on optimizing processes for ongoing management of lease accounting data and entries. As leases evolve over their lifetimes, organizations must maintain accurate tracking and financial reporting. A proactive approach to enhancing record-keeping, reconciliation and analytics will enable organizations to make more strategic business decisions after analyzing lease accounting data.

In our previous article, we covered the critical considerations for lease accounting as organizations entered the post-implementation phase. Now that the initial challenges of adopting the new standards are in the rearview mirror, the focus shifts to optimizing processes for ongoing compliance and maximizing the benefits of enhanced financial reporting.

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