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GASB 87 Compliance Doesn't Have 
to Be So Hard

AMTdirect's software helps you achieve FASB ASC 842 compliance.U.S. state and local governments and educational institutions are facing a tall order: They must comply with the new GASB 87 lease accounting standard by Jan. 1, 2021. The Governmental Accounting Standards Board (GASB) has moved lease accounting out of the notes and onto the balance sheet, much like its sister organization the Financial Accounting Standards Board (FASB) has done with the ASC 842 standard.

But there will be a lot more complexity in the classification and defining of terms when it comes to GASB 87. In fact, here are the top challenges you'll face as you implement GASB 87 over the next 4-6 months:

  •   Cataloging the location of all your leases - both real estate and equipment.
  •   Dealing with a lack of standard lease terms, especially for equipment leases.
  •   Enduring a lengthy lease abstraction and review process.
  •   Handling resource constraints.
  •     Pursuing cross-department approvals.
  •     Learning new accounting & financial reports.
  •     Managing the testing period.

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Right Time, Right Solution

The challenges of GASB 87 implementation may seem overwhelming, but they don't have to be. AMTdirect software can automate the entire calculation and reporting process for you. And our team of experts in lease administration and accounting have 21 years of know-how to make your transition much less painful.

Best of the Best

Our team of CPAs, attorneys, paralegals, and lease administrators is the reason we have the best implementation & onboarding experience in the industry.

 

Reporting on Autopilot

Spreadsheets are out, automation is in. AMTdirect's software lets you ditch the manual, mistake-ridden processes in favor of automated audit-trail tracking and custom reporting.

Complexity? No Problem

Complicated doesn't scare us. And that comes in handy when you're facing a behemoth like GASB 87 and need all the know-how you can get your hands on.

Integrations, Check

If you've got accounting and ERP systems, we've got you covered. Integrations are our specialty. Our software is flexible and built to connect real estate and financial programs.

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