AccountLease completes initial implementation of ASC 842

  • General Finance Corporation
  • 9,000,000 sq. ft.
Services Provided
  • AccountLease

client objectives and results

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Client Objectives

In 2017 & 2018, the AccountLease team worked with the Audit Committee Chairman and CFO of a middle-market public company General Finance Corporation (NASDAQ: GFN) to evaluate the impact the new lease accounting standards would have on the company’s balance sheet 


Using the AccountLease methodology, GFN was able to successfully disclose in their September 2017 & 2018 Form 10-K a range of the impact of the new lease liability on their balance sheet as of July 1, 2017.  Based on our informal inquires at the SEC, we believe that the AccountLease team may have been the first firm to successfully compute and disclose the range of the effect on the balance sheet of the new lease accounting standards for a global company with many leases around the world.