Changes in GAAP, GASB and IFRS have transformed how organizations are required to handle, document and report on their leases. Leases have now become an important part of your financial reporting. Having tight control over your lease portfolio is more important than ever.
Publicly traded companies must be compliant with the new standard for financial reporting periods from January 2019 forward and private companies must be compliant starting in January of 2020. Visual Lease allows users to create the necessary documentation to ensure compliance.
International organizations must be compliant with IFRS 16 for the 2019 reporting year. Visual Lease makes IFRS 16 compliance simple, with automated exclusion of short-term and low-value leases as well as other features unique to international reporting standards.
GASB 87 changes the way many publicly financed entities report leases on their balance sheets. Visual Lease makes it easy for organizations to comply with GASB 87 in conjunction with other standards like IFRS 16 and ASC 842.
