FASB, IASB and GASB Compliance

FASB, IASB and GASB Compliance

Understand changing deadlines and getting compliant on time with Lucernex

FASB/IASB and GASB Lease Accounting Compliance

Due to the new accounting standards, organizations must include both lessee and lessor lease obligations of all real estate and equipment assets with lease terms of more than 12 months on their balance sheets. 

FASB logo

GASB logo

Deadlines for Compliance

US Public and International Companies (FASB/IASB) – 2019 Fiscal Year
US Private Companies & Government Organizations (FASB/GASB) – 2020 Fiscal Year

All Organizations Must Adhere to New Accounting Standards

 

 
Industry Icons

 Retail

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 Corporate

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 Healthcare

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 Telecom

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 Government

 

Choose Accruent’s Lucernex solution to get FASB compliant because it is:

 

  • 100% successful with implementations, including 128 in 2019 alone
  • A fully configurable platform that allows you to handle the most complex leases
  • Utilized in retail, corporate, healthcare, telecom, and the public sector
  • Designed to meet the needs of both real estate and equipment leases
  • Compliant with the new financial reporting requirements under FASB ASC 842, IASB IFRS 16 and GASB No. 87
  • Able to accurately classify leases as operating or finance using the FASB ASC 842 test
  • Able to generate accurate accounting schedules from a solution that has been verified by an independent 3rd party accounting firm

Ensure Compliance With Lucernex

Glasses on Notebook

Designed to meet the needs of both real estate and equipment leases, Lucernex is a cloud-based, third-party verified FASB/IASB compliant solution, that allows customers to seamlessly mitigate risk, improve business processes, and make decisions that impact the overall health of their businesses. 

Lucernex makes it easy for your organization to: 

  • Meet the new financial reporting requirements under FASB ASC 842, IASB IFRS 16 and GASB No. 87
  • Accurately classify your leases as operating or finance using the FASB ASC 842 test
  • Generate accurate accounting scheduled from a solution that has been verified by an independent 3rd party accounting firm

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