FASB ASC 840 Leases
Manage and report FASB ASC 840 leases seamlessly within your business with the help of Visual Lease, a cutting-edge, Cloud-based lease management program that has proven to be a valued resource for companies in a wide range of industries — including leading Fortune 500 corporations.
Is your company ready for the accounting changes that will be made with the new FASB ASC 840 lease accounting standards? These are monumental accounting changes that will require businesses act — you can’t simply sit on the sidelines and hope that approaching it with business per usual is going to cut it.
With the help of Visual Lease and our innovative ASC 840 lease accounting software, you and your team are able to track, report on, and manage all types of leases, making sure to use this data for accounting purposes and stay in compliance with all applicable regulations.
How does your business currently track and manage leases?
Virtually every business utilizes leases in one way or another — capital leases, real estate leases, operational leases and more. What is your company’s method of tracking and managing these leases right now? Are you able to make sure they are compliant FASB ASC 840 leases?
Some of the more commonplace methods of managing leases include:
- Spreadsheets: Microsoft Excel provides valuable spreadsheet solutions, but this is not a lease management program. You’re still going to have to manually extract and compile the needed data. With Visual Lease, all the necessary calculations are automated and you can generate a wide range of custom reports.
- Paper documents: There are certainly businesses that save and store the paper contracts and let that serve as their method of record-keeping of choice. Visual Lease brings this littered messed to one central platform.
- Other accounting programs: There is a variety of accounting and lease management software on the open market. A selling point for Visual Lease is its easy integration with many of these third-party platforms, making it easy to import and export lease data.
Ensure your business meets the demands of FASB ASC 840 lease accounting standards
Visual Lease has templates and needed resources to create and manage compliant FASB ASC 840 leases. Connect with our team for more information and to try out a free demo.