This guide outlines the first 90 days for private companies implementing ASC 842 lease accounting standards. It emphasizes creating a cross-functional team, inventorying all leases, and centralizing data in a single system. Steps include selecting the right software, ensuring data accuracy, and defining policies for classification, discount rates, and materiality. The guide recommends parallel runs before go-live, thorough testing, and ongoing training. Early focus on automation, standardized processes, and integration with ERP systems ensures compliance, reduces risk, and sets the foundation for long-term cost savings and strategic lease management .

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