Make Lease Accounting Compliance a Breeze!
Update: FASB Approves Delay of Effective Dates for Changes in Lease Accounting and Credit Loss Accounting
When tackling lease accounting there are several variables, calculations, reports and disclosures that need to be prepared for inclusion in the financial statements. This requires the accounting department to develop and modify processes to facilitate the data collection, analysis and presentation required under the new guidelines. While many have turned to spreadsheets to work through the “heavy lifting”, there are a number of potential issues that can make errors difficult to find. Rather than trudge through that process, it’s much easier and less time consuming to rely on Barnes Dennig’s LeaseCrunch software.
Our cloud-based software offers companies the ability to quickly and accurately compile, produce and deliver the necessary items to comply with the new lease accounting standard. Save time and money in the audit preparation process while removing common compliance headaches. Since the software is scalable, it can meet the needs of companies with just a few to those with thousands of leases.
Key Features
The software offers many features and tools that make it easy for companies to manage compliance, including:
- Simplifies Policy Elections – Our tool makes it easy to identify required policy elections under FASB regulations and provides important guidance necessary to make the proper elections.
- Automates Footnote Disclosures – Our LeaseCrunch software offers automated quantitative disclosures that makes it easier to ensure the right information is included.
- Generates Journal Entries – The software also features a data export engine which provides customizable exports so companies can quickly update their ERP and other accounting programs.
- Robust Reporting – Templated reports make it easy to compile the information most commonly needed for compliance. However, a custom reporting feature allows companies to meet more specific needs.
Lease Accounting Resources
- View our Accounting & Auditing Standards Seminar On Demand – Join Barnes Dennig Director Tom Groskopf as he reviews lease implementation, challenges and other key assurance topics.
- Visit our Assurance Blog for the latest on LeaseCrunch, lease accounting and the latest on implementation
- View our Assurance Services page to learn more about how Barnes Dennig can help you to see beyond the numbers and strengthen your company.
- Set Up a Demo of the LeaseCrunch Software – We’ll walk you through the software and you can assess whether it makes sense for your company.
