LeaseAccelerator and RSM to provide end-to-end lease accounting solution for middle market

RESTON, Va., May 9, 2018 /PRNewswire/ -- LeaseAccelerator, the leading provider of Enterprise Lease Accounting software, announced today that RSM US LLP ("RSM") has joined its global partner program. RSM is the nation's largest provider of audit, tax and consulting services focused on the middle market with more than 9,000 professionals in 90 cities across the US. To support the recent wave of major accounting changes being introduced by the standards boards, RSM has developed a lease accounting practice to assist clients with assessment, strategy, implementation and adoption management for ASC 842 projects.

The alliance enhances RSM's ability to offer its clients a leading Enterprise Lease Accounting application and broad range of services, including:

• Process transformation – Assessment of a company's current policies and controls, data and systems, and people and processes; design of a future-state model that leverages LeaseAccelerator's powerful lease sourcing and management capabilities
• Data collection – Identification of the data required to perform accounting under the new standards as well as abstraction of the necessary data from leasing contracts, invoices and purchase orders
• Software implementation – Upload of leasing data and master data into LeaseAccelerator's application; configuration of accounting policy elections and practical expedients for the ASC 842 standards
• Day Two support – Ongoing operational support for the lease accounting program after the initial compliance deadline; best-in-class lease management processes across the organization to reduce costs and optimize use of capital

"The new leasing standard, ASC 842, is complex, and represents a revolution in accounting," said Scott Vanlandingham, a principal with RSM US LLP. "The implementation of this standard requires involvement throughout the entire organization. No longer strictly within finance, the standard involves groups, such as IT, to implement new systems and to manage the accounting and disclosures. Our new alliance with LeaseAccelerator will help RSM offer a complete solution that includes technology, consulting and ongoing support to clients seeking a managed service for compliance."

"With deadlines for the new leasing standards swiftly approaching, our customers are seeking service providers that can not only advise on the technical accounting issues with ASC 842, but also assist with process transformation, data collection and software implementation," said Tyler Mills, vice president of global alliances for LeaseAccelerator. "RSM now brings a complete solution that includes best-in-class software, consulting for day one compliance, but also support for day two and beyond."

LeaseAccelerator's Global Alliance program enables audit, tax and advisory firms, as well as finance and accounting business process outsourcing (BPO) providers, to assist their clients with implementation of the new ASC 842 and IFRS 16 standards. By leveraging LeaseAccelerator's Enterprise Lease Accounting application, alliance members can offer an expanded set of consulting, implementation and managed services to clients seeking assistance in transitioning their accounting and financial reporting processes.

About LeaseAccelerator
LeaseAccelerator offers the market-leading software-as-a-service (SaaS) solution for Enterprise Lease Accounting, enabling compliance with the current and new FASB and IFRS standards. Using LeaseAccelerator's proprietary Global Lease Accounting Engine, customers can apply the new standards to all types of leases including real estate, fleet, IT and other equipment at an asset level as required by FASB and IASB. On average, LeaseAccelerator's Sourcing and Management applications generate savings of 17 percent with smarter procurement and end-of-term management. Learn more at http://www.leaseaccelerator.com/.

About RSM US LLP
RSM's purpose is to deliver the power of being understood to our clients, colleagues and communities through world-class audit, tax and consulting services focused on middle market businesses. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today's ever-changing business environment.

RSM US LLP is the U.S. member of RSM International, a global network of independent, audit, tax and consulting firms with more than 43,000 people in over 120 countries. For more information, visit rsmus.com, like us on Facebook, follow us on Twitter and/or connect with us on LinkedIn.

SOURCE LeaseAccelerator