AMTdirect and RSM Help Organizations Comply with FASB ASC 842, IFRS 16 Lease Accounting Mandates
CHARLOTTE, N.C., June 20, 2018 /PRNewswire-iReach/ -- AMTdirect, the leading provider of lease accounting and administration software, announced today that RSM US LLP (RSM) has joined its alliance program. RSM is an audit, tax, and consulting firm focused on the middle market, with 200 employees based in Charlotte. RSM is the 5th largest accounting firm in the United States, and a member of RSM International, a global network of independent firms with more than 43,000 people in over 120 countries. The alliance will streamline compliance with the new ASC 842 lease accounting and reporting requirements set forth by the Financial Accounting Standards Board (FASB) and IFRS 16, the standard set by the International Accounting Standards Board (IASB).
The new accounting and reporting standards represent a significant challenge for middle market organizations, both public and private, including those in the healthcare, retail, higher education, manufacturing and financial services sectors. The new rules move most lease contracts onto the balance sheet to give investors and lenders a complete view of the organization's financial obligations. AMTdirect's lease accounting and administration solution provide the platform for timely and accurate reporting under the new rules as well as a solution for addressing day-to-day lease management. RSM's lease accounting practice provides clients with consulting, data collection, and process change services.
"Compliance with the new leasing standards is a complex process that requires a cross-functional approach," said Scott Vanlandingham, a principal with RSM US LLP. "The change will have impacts on the finance, real estate, procurement, legal, and IT teams. Our deep expertise, coupled with AMTdirect's robust technology puts us in the position to help clients navigate the initial transition and to provide a managed approach."
"We are delighted to partner with RSM to give clients an option for turn-key implementation and related services," added Daniel Schubert, President of AMTdirect. "As the deadline approaches, expert resources are in high demand. RSM's services powered by AMTdirect's advanced lease management platform offers a smart alternative, especially for organizations with complex lease portfolios."
AMTdirect and RSM are both sponsors of the Healthcare Financial Management Association's annual conference which will take place in Las Vegas, NV, June 24 – 27 at the Venetian-Palazzo Sands Expo. Representatives can be found in adjacent booths #115 and #117 in the exhibit hall.
About AMTdirect
With more than 20 years in the industry, AMTdirect is the most trusted name in lease accounting and administration software. The AMTdirect platform allows real estate executives, CFOs, and administrators to gain control over their owned and leased real estate portfolios and ensure compliance with the new FASB ASC 842 and IFRS 16 lease accounting standards. Clients include leading companies in the retail, healthcare, higher education, corporate, and real estate management sectors.
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.
Media Contact: Amber Newman, AMTdirect, 917 728-1077, [email protected]
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SOURCE AMTdirect
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