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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 transition period.
• Technical Memo Drafting: Author technical position papers documenting the conversion methodology, including the selection of practical expedients (e.g., the "package of three").
• Incremental Borrowing Rate (IBR) Analysis: Determine and justify appropriate discount rates for leases where an implicit rate is not readily available.
• Disclosure Preparation: Create the enhanced qualitative and quantitative disclosures required by US GAAP, such as maturity analyses and weighted-average lease terms.

Qualifications

• Professional Designation: CPA (Canada or US) is essential.
• Subject Matter Expertise: Proven experience applying ASC 842 (US GAAP)
• Prior Conversion Experience: Experience leading at least one major GAAP conversion project
• Technical Skills: Advanced Excel
  
  

  AI may be used to support certain administrative aspects of our recruitment process. However, all applications and resumes are reviewed by qualified human reviewers, and all screening and hiring decisions are made solely by the hiring team.

  The posted salary range reflects expected compensation for this role in accordance with Ontario pay transparency requirements. Actual compensation will be determined based on the successful candidate’s experience, skills, and qualifications and may fall anywhere within the range.