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.
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.
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, Memphis, Louisville, Nashville, Knoxville, Philadelphia, and Charlotte, plus remote offices, LBMC partners with businesses across the region and beyond.
Lease Accounting Resources & Insights
- Audit Procedures for Leases under ASC 842
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
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
Learn how private companies can refine ASC 606 compliance in 2026 with better controls, fewer audit issues, and strategic revenue practices.