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LEASE CLASSIFICATIONS  
Assess whether an asset is classified as a Finance or Operating Lease

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RECOGNITION OF MEASUREMENTS  
Capture details to recognize the asset’s liability

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MODIFICATIONS AND REMEASUREMENTS
Recognize and re-assess the asset value and liability 

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DISCLOSURE REQUIREMENTS
Record statements substantiating adherence to new lease accounting standards

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DUAL REPORTING
Track the financial impact of ASC 840 vs. ASC 842 

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PORTFOLIO ANALYSIS AND PROJECTIONS
Strategically assess the impact of the new standards across your portfolio

WHAT IS FASB AND HOW CAN ACCRUENT HELP?

The FASB lease accounting standard changes are part of a multi-year effort to align U.S. standards with global accounting standards while increasing the transparency of off-balance sheet obligations. For most organizations, the changes will create a greater compliance burden and have a material change on corporate financial statements. Investing in a lease administration software solution can simplify the process of adhering to key requirements set forth by FASB. Accruent has integrated deep functional support for users preparing to transfer their leases to adhere to the new FASB lease accounting standards. This new functionality allows for a simplified and accurate transition, and lets businesses prepare and edit their lease content before fully adopting the new standards.

EXAMPLES OF KEY FUNCTIONALITY

  • Classification Test
  • Lease Transition FAS 13 to FAS 842
  • Modification Entry
  • Remeasurements
  • Audit Tracking
  • Sublease Accounting
  • Disclosures
  • Portfolio Analysis
  • Sale Leaseback Accounting
  • Real Estate & Equipment Leasing
  • IFRS 16 

WHY ACCRUENT?

  • Business Partnership
  • 20+ years of Lease Administration Expertise
  • FASB Ready
  • Optimized Migration Plans
  • World-Class Services & Support

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Tags: fasb, accruent, retail, lease accounting, lease administration