--- title: "Lease Accounting Services" url: "https://www.lbmc.com/services/audit-assurance/lease-accounting-services/" description: "The new lease accounting guidance presents an opportunity to proactively implement new processes and policies while simultaneously taking inventory of your Company's lease populations, and assess the impact on future financial reporting." site: "LBMC" type: "Page" published: "2025-11-14" updated: "2026-07-31" --- [Home](https://www.lbmc.com/) » [Services & Solutions](https://www.lbmc.com/services/) » [Audit and Assurance](https://www.lbmc.com/services/audit-assurance/) » Lease Accounting Services # Lease Accounting Services ### Clear, Practical Support for ASC 842 Compliance Lease accounting under ASC 842 is no longer a one-time implementation—it’s an ongoing accounting and reporting responsibility. Organizations must maintain accurate lease data, apply consistent judgments, and ensure their financial statements and disclosures remain compliant as lease portfolios evolve. LBMC helps organizations manage lease accounting requirements with confidence. Our team supports everything from lease population management and technical accounting analysis to software readiness and audit support—so your lease accounting stays accurate, defensible, and aligned with your broader financial reporting processes. ### Preparing for an Audit? Whether you’re planning your first audit or looking for a new audit partner, our professionals can help you understand your requirements and plan your next steps. Start a Conversation ## Lease Accounting Services in Practice Lease accounting touches more than just the balance sheet. It impacts internal controls, system workflows, debt covenants, and audit timelines. LBMC works alongside your accounting and finance teams to simplify ongoing compliance and reduce manual effort. Our lease accounting support typically includes: - Reviewing and maintaining complete lease inventories, including embedded leases - Evaluating lease classification, terms, and key assumptions - Supporting initial and ongoing ASC 842 calculations and disclosures - Aligning lease accounting processes with close and audit timelines - Assisting with policy documentation and internal controls The goal is practical compliance that fits your organization—not added complexity. ## Why Businesses Seek Lease Accounting Support Organizations often engage lease accounting specialists when lease complexity begins to strain internal resources or increase audit risk. Common triggers include: - Large or decentralized lease populations - Inconsistent lease documentation or tracking - Manual spreadsheets that are difficult to maintain or audit - Changes to lease portfolios due to growth, acquisitions, or restructuring - Audit findings or disclosure challenges related to ASC 842 - Concerns about debt covenant impacts or financial ratios Lease accounting support helps organizations regain clarity, consistency, and control. ## LBMC’s Lease Accounting Services LBMC provides flexible lease accounting services designed to support both initial compliance and long-term sustainability. Our approach adapts to your systems, staffing model, and reporting requirements. ### Our Services Include: - **Lease Data Extraction & Validation** Identifying leases across contracts and validating key terms and assumptions. - **Process Mapping & Internal Controls** Designing repeatable workflows that align with close, reporting, and audit needs. - **Technical Accounting Support** Guidance on ASC 842 application, classifications, modifications, and reassessments. - **Software Readiness & Advisory** Helping evaluate, implement, or optimize lease accounting software without overengineering. - **Change Management & Documentation** Supporting accounting policies, procedures, and internal training. - **Financial Impact & Covenant Analysis** Assessing balance sheet impacts and implications for lenders and stakeholders. ### Ready to Strengthen Your Lease Accounting Process? Whether you’re refining an existing ASC 842 process or addressing new lease activity, LBMC can help you move forward with clarity and confidence. Talk to an Advisor ## Industries We Support LBMC works with organizations across industries where lease activity is complex or material, including: - Healthcare - Manufacturing and Distribution - Technology and SaaS - Retail, Restaurant, and Hospitality - Real Estate and Construction - Private Equity and Portfolio Companies *Representative sample; not intended to be all-inclusive.* ## Why Choose LBMC for Lease Accounting? Lease accounting requires technical accuracy, operational awareness, and audit-ready documentation. LBMC brings all three. - Deep technical accounting expertise across ASC 842 - Experience supporting both public and private companies - Practical guidance that aligns with real-world accounting workflows - Seamless coordination with audit and advisory teams - Scalable support—project-based or ongoing We focus on helping teams stay compliant without adding unnecessary complexity. ### Local Expertise, Wherever You Are With offices in [Chattanooga](https://www.lbmc.com/locations/chattanooga/), [Memphis](https://www.lbmc.com/locations/memphis/), [Louisville](https://www.lbmc.com/locations/louisville/), [Nashville](https://www.lbmc.com/locations/nashville/), [Knoxville](https://www.lbmc.com/locations/knoxville/), [Philadelphia](https://www.lbmc.com/locations/philadelphia/), and [Charlotte](https://www.lbmc.com/locations/charlotte/), plus remote offices, LBMC partners with businesses across the region and beyond. [Find an office near you](https://www.lbmc.com/locations/) ## Lease Accounting Resources & Insights - [**Audit Procedures for Leases under ASC 842**](https://www.lbmc.com/blog/audit-lease-accounting-asc842/) Auditors can play a key role during the adoption of ASC 842. Learn about the six audit assertions assessed for lease accounting. - [**Prepare for an Audit of Financial Statements**](https://www.lbmc.com/blog/prepare-financial-statement-audits/) Review questions to ask while preparing for a financial statement audit, including how significant accounting areas such as leases affect the audit process. - [**Revenue Recognition: Insights for CFOs in 2026**](https://www.lbmc.com/blog/revenue-recognition-private-company/) Learn how private companies can refine ASC 606 compliance in 2026 with better controls, fewer audit issues, and strategic revenue practices. ## Contact Us