Stout performed a full adoption of ASC 842 leases for a privately-owned media and telecommunications company. The Company's lease portfolio included approximately 50 leases.

Work performed during this engagement included the following:

• Reviewing and evaluating over 50 contracts
• Extracting and assessing all key lease terms
• Calculating values of right-of-use assets and lease liabilities
• Providing journal entries required to record the right-of-use assets and lease liabilities (at adoption and for the first fiscal year of reporting requirements)
• Drafting technical memorandums and audit-ready documentation to support adoption policies, processes, practical expedients elected and conclusions on complex issues
• Completing all required disclosures for financial reporting