Leasing Standards

The lease accounting standards are far-reaching and substantially change the way organizations record leases.

Organizations need to be prepared to change the way leases are recorded since the updated lease accounting guidance for both FASB and GASB reporting entities are now in effect.

Regardless of private company versus public sector, the updated leasing standards have a sweeping impact on organizations. Organizations should focus on implementation early and understand the issues they will face when it comes to complying with the latest FASB and GASB standards. Our experienced team has helped numerous organizations implement and comply with the leasing standard changes.

We’ll help you define what leases are part of your organization, choose software to help you track the leases and ensure you comply with the latest standards.

Implementing the Updated Lease Standard

Implementation of the latest lease standard can be complicated. This guide will help you walk through the steps to implement the standard with confidence.

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The updated lease standard can be complicated.

Make sure you’re in compliance.

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The updated lease standard can be complicated. Make sure you’re in compliance with the help of Eide Bailly.

Our team has helped numerous organizations understand and implement the new lease standard.

Leasing Standards Leadership

Scot R. PhillipsCPA

Partner/Audit & Assurance Practice Leader

Scot joined the firm in 2002 and is a highly experienced public accountant, serving privately held companies, government entities and nonprofit organizations. His work includes audits, reviews and compilations of financial statements, interpretations of financial information and assistance with technical accounting matters. Scot is a recognized leader in his field, as well as in his community, participating in many local business and professional associations.

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Brian P. CallahanCPA

Partner/National Market Leader

Brian has provided assurance services to his clients since 1994, including as a partner since 2005. He is especially well versed in accounting issues that concern the real estate, manufacturing, distribution, software and internet, consumer products and energy industries. Brian serves clients with company revenues ranging from start-up entities to in excess of $1 billion with a sweet spot of company revenues between $20 million and $200 million. Brian is one of Eide Bailly’s Securities and Exchange Commission partners. Since 2013, Brian has served as the Partner-in-Charge (PIC) of the Eide Bailly offices in Colorado and also is on the firm’s Board of Directors. In his role as the PIC for Colorado, Brian coordinates and quarterbacks resources for the core service partners in the Denver, Fort Collins, Boulder and Grand Junction offices.

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