Job Description
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 Adjustments: Prepare the opening balance sheet adjustments and modified retrospective entries required for the trans...