The client’s accounting and finance teams were located in multiple countries, with the United States team in charge of the final consolidation of ASC 842 company results. The client utilizes two different ERP systems and one consolidation tool.
The US and international countries did not have the resources to provide dedicated expertise to their internal project team, including staff with technical knowledge of the ASC 842 lease accounting standard.
Vaco was able to provide a dedicated team with previous experience in implementation of the new lease accounting standard. The Vaco team had previous lease accounting expertise with a similar-sized company and volume of leases. Vaco helped ease the burden of the project by providing:
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