As a result of the Enron fallout, accounting and financial reporting regulators are making it harder to hide debts and assets from shareholders. These new standards were introduced to improve transparency for the amount, timing and uncertainty of cash flows from or due to leases. Designed to meet the needs of both real estate and equipment leases, Lucernex allows you to mitigate risk, improve business processes and make better decisions for your business.
- Meet the new financial reporting requirements under ASC 842 & IFRS 16
- Accurately classify your leases as operating or finance using the FASB ASC 842 test
- Generate accurate accounting schedules from a solution that has been verified by an independent 3rd party accounting firm