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FASB, IASB & 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 GASB Logos

Deadlines for Compliance

US Public and International Companies (FASB/IASB) – 2019 Fiscal Year

US Private Companies & Government Organizations (FASB/GASB) – 2020 Fiscal Year

Accounting Standards for All Organizations

Retail

Corporate

Healthcare

Telecom

Government

Accruent's FASB, IASB & GASB Solution, Lucernex, 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

Melissa Hammerle
Commercial President at Accruent
With over 30% of private/not-for-profit companies having not begun their ASC 842 adoption, time is of the essence. Depending on the scope and distribution of your portfolio, an organization needs a bast-in-class implementation team and a proven solution tailor-made for compliance.

Ensure Compliance With Lucernex

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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