Accounting Manager - Lease Accounting (ASC 842)

• Job Title: Accounting Manager – Lease Accounting (ASC 842)
• Location: Houston, TX
• Job Type: Contract
• Experience Required: 8–10 Years

• Position Overview
• We are seeking an experienced Accounting Manager with deep expertise in ASC 842 Lease Accounting to support complex lease accounting operations and financial reporting activities. This role will focus primarily on lease accounting functions and technical accounting matters related to equipment leasing arrangements.
• The ideal candidate will have strong knowledge of lessor accounting, lease classification, lease modifications, collectibility assessments, and operating lease accounting under U.S. GAAP. This role does not include Accounts Payable (AP) or Accounts Receivable (AR) responsibilities.

• Key Responsibilities

Manage and oversee lease accounting activities in compliance with ASC 842 and U.S. GAAP.

Analyze and review lease agreements to determine appropriate lease classification, including operating, sales-type, and direct financing leases.

Handle accounting for operating leases, including:

Recognition of rental income on a straight-line basis

Recording and tracking deferred rent balances

Depreciation of leased equipment over useful life

Maintain accurate accounting for right-of-use (ROU) assets, lease liabilities, and related disclosures.

Assess collectibility of lease payments and determine appropriate revenue recognition treatment.

Support reserve analysis for doubtful accounts and customer financial risk assessments.

Evaluate lease modifications, renewals, upgrades, downgrades, and extensions to determine appropriate accounting treatment.

Determine whether lease modifications should be treated as new leases or modifications to existing agreements.

Prepare journal entries, reconciliations, schedules, and supporting documentation related to lease accounting.

Support month-end, quarter-end, and year-end close activities.

Coordinate with internal and external auditors for lease accounting compliance and reporting requirements.

Collaborate with finance, legal, operations, and commercial teams on lease-related transactions and accounting impacts.

Identify process improvements and support automation initiatives within lease accounting operations.

• Required Qualifications
• Bachelor’s degree in Accounting, Finance, or related field. CPA preferred.

8–10 years of progressive accounting experience with strong focus on ASC 842 lease accounting.

Strong understanding of lessor accounting under U.S. GAAP.

Experience with equipment leasing or rental accounting environments preferred.

Ability to interpret complex lease agreements and accounting guidance.

Experience handling lease modifications and collectibility assessments.

Strong analytical, problem-solving, and communication skills.

Advanced Excel skills and experience with ERP/accounting systems.

Preferred Qualifications

Experience in healthcare, medical equipment leasing, or capital equipment industries.

Experience supporting organizations with high-volume lease portfolios.

Knowledge of financial reporting, technical accounting research, and audit support processes.

• Key Skills

ASC 842 Lease Accounting

Lessor Accounting

Operating Lease Accounting

Lease Classification

Lease Modifications

Revenue Recognition

Deferred Rent Accounting

Financial Reporting

U.S. GAAP Compliance

General Ledger & Reconciliations

Audit Support

ERP Systems & Advanced Excel