US GAAP CONSULTANT

About our Client

Our Toronto based client is seeking a US GAAP Conversion Specialist (Lease Accounting Focus) . The accountant will be responsible for transitioning the company’s lease portfolio from ASPE Section 3065 to US GAAP ASC 842. This project involves reclassifying existing leases, calculating right-of-use (ROU) assets and liabilities, and documenting the technical shift for audit purposes.

Responsibilities

• Portfolio Impact Assessment: Review all current ASPE operating and capital leases to identify those that must be recognized on-balance sheet under ASC 842.


• ROU and Liability Calculation: Calculate the Right-of-Use (ROU) asset and lease liability for each contract using the appropriate incremental borrowing rate or implicit rate.


• Transition Adju...