This week we continue our Leasing toolkit series and cover private company implementation challenges and how to mitigate them.
In our Toolkit podcast series, we take a deep dive into one accounting topic each month that goes beyond the basics and into areas that require judgment. This month, we are covering leasing–a multifaceted area that generates numerous questions.
In this episode, Heather Horn was joined by C.J. Finn, a partner in PwC’s private company services group and Chad Soares and Marc Jerusalem from our National Office to discuss lessons learned and key judgments that need to be made for private company adoption.
In this episode, you will hear:
  • 1:12 - An overview of an effective adoption approach
  • 6:03 - What previous adopters have learned about allocating the appropriate resources
  • 11:19 - The definition of a lease under ASC 842 and recognition of lease and non-lease components
  • 20:24 - Transition and practical expedients
  • 29:18 - FASB standard setting activity to ease the burden of implementation
  • 35:55 - Common legacy accounting issues that are challenging under the new standard
  • 40:40 - Final advice on how to drive an effective implementation of ASC 842

Want to learn more? Listen to our previous podcast in our Leasing toolkit series on how to get lease measurements and modifications right. Also, see our flowchart to think through lease classification in our Leases guide.
About our guests
C.J. Finn, PwC’s private company accounting change leader, has 18 years of experience working with public and private companies. He has advised large multinational clients on complex accounting areas, SEC reporting, system development, mergers and acquisitions, and purchase accounting and valuation.
Chad Soares is a partner in PwC's National Office focused on leasing and financing arrangements. He was a primary author of PwC’s Leases guide and continues to contribute to a variety of thought leadership related to leasing and financial instruments.
Marc Jerusalem is a Director in PwC’s National Office specializing in leasing. Marc consults with clients on complex lease accounting issues and is a frequent contributor to many related PwC National Office publications.
About our host
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to
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