Public Company Lease Accounting Software
What does your organization need to know about public company lease accounting software in the face of the FASB and IFRS lease regulatory changes? You need to be prepared to implement and comply with these updated rules, and public company lease accounting services from Visual Lease can assist you with that process.
With our public company lease accounting solutions, you can consolidate your lease management needs with your existing enterprise software, giving you a comprehensive solution with which to tackle the new regulations.
What you need to know about public company lease accounting software before the big changes
- First, your organization needs to be preparing to implement FASB and IFRS changes before the effective date of Dec. 15, 2018.
- Your company will be required to apply a “modified retrospective” approach, which means that the new rules apply to leases that are existing at, or entered into after, the first comparative period in your financial documentation for the regulatory year.
- Leases that expire before the new standard is applied will not be subject to the rule. In other words, if you anticipate that your leases will extend from today into the “active period” for the new regulations, it may be time to consider new public company lease accounting services.
This transition period is only the beginning of the new lease requirements. Your organization needs to be prepared to manage growing balance sheets, more stringent reporting requirements, and modifications to your key performance indicators.
You simply cannot afford to delay. With the help of Visual Lease’s expert team of implementation specialists, you can quickly transition into a more effective lease management system in as little as 90 days. We can help your team understand more about the new FASB and IFRS rules with regards to classification and other requirements.
Let our public company lease accounting software do the heavy lifting and data analysis that will free up your human capital for more strategic decision-making. Contact our team today for a no-cost demonstration — click now for more!