Tag Archives: Equipment Lease Management software

LeaseAccelerator Announces FASB ASC 842 and IFRS 16 Compliant Accounting Solution for Equipment Leases

New Lease Accounting Standards

GREAT FALLS, Va., April 18, 2016 (SEND2PRESS NEWSWIRE) -- LeaseAccelerator, the leader in Equipment Lease Management software, today announced a new release featuring updated functionality to support the new lease accounting standards introduced by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). With support for FASB ASC 842 and IFRS 16, LeaseAccelerator customers can now confidently comply with the financial reporting requirements of the U.S. Securities and Exchange Commission (SEC) and other international regulators in time for the 2019 implementation deadlines.

LeaseAccelerator's accounting capability is designed to handle the unique complexities of equipment leases across a wide variety of categories from material handling and manufacturing equipment to office and IT equipment. The new functionality enables companies to track equipment leases not only at the portfolio and schedule level, but at the asset-level as well. Over 100 data attributes can be tracked for each individual piece of equipment along with all the judgments, calculations, emails and supporting documentation. Activities that might impact the accounting are tracked for each leased asset including upgrades, swaps, partial buyouts, returns, and renewals.

With this comprehensive set of data, the LeaseAccelerator software-as-a-service application can produce all the debits and credits needed for the new lease accounting standards. In a few mouse clicks, users can generate income statements, balance sheet and cash flow statements under the new standards, current standards or both in parallel.

Features of the new release include:
• Lease classification testing to distinguish between finance leases and operating leases.
• Multiple ledgers to support the comparative, historical reporting requirements and local statutory GAAP requirements.
• Journal entries for major lifecycle events throughout the lease including commencement, mid-term, and end-of-term.
• Calculations of monthly expense recognition, payment, principal reduction, short and long term reclassifications.
• Interfaces of all journal entries (debits and credits) to SAP, Oracle and other General Ledger applications.
• Roll Forward, Trial Balance, Future Obligations by Period and Lease Classification Accounting Treatment reports, and As-at reporting.

"Most companies are focused on the 2019 implementation deadline date, but both FASB and IFRS require up to three years of comparative, historical reporting as well. That means many companies need to start capturing the detailed accounting data for their leases starting in 2017, the date of initial adoption," said Mark Koppersmith, director of product management for LeaseAccelerator. "With our SaaS application, customers can activate the new accounting capabilities in less than 24 hours and begin to start collecting all the information needed during the transition period -- from lease terms and payments to reasonably certain end-of-term options."

About LeaseAccelerator:

LeaseAccelerator offers the market-leading SaaS solution for Equipment Lease Management (ELM), delivering hard cost savings, compliance, and best practices to large, international lessees. LeaseAccelerator is the only solution that covers the entire enterprise equipment leasing lifecycle, including: Equipment Lease Sourcing, saving 6-8 percent by driving down capital costs; Portfolio and Performance Management, saving 8-12 percent by improving end-of-term return performance; and Lease Accounting, enabling compliance with current and new FASB, IFRS and SOX standards.

Learn more at http://www.leaseaccelerator.com/.

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Twitter: @LeaseAccelerate

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/leaseaccelerator-announces-fasb-asc-842-and-ifrs-16-compliant-accounting-solution-for-equipment-leases-2016-0418-01.shtml.

NEWS SOURCE LeaseAccelerator :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.

LeaseAccelerator to Host Webinar on Spend Management for Equipment Leases

Equipment Lease Management Software

GREAT FALLS, Va., Jan. 19, 2016 (SEND2PRESS NEWSWIRE) -- LeaseAccelerator, the leader in Equipment Lease Management Software, announced today that it will host a webinar on Spend Management for Equipment Leases. Drawing upon case studies from Fortune 500 companies, LeaseAccelerator will outline how savings of 6-8 percent can be achieved on leases in categories ranging from transportation and material handling to IT and office equipment.

The webinar is designed for procurement leaders developing their 2016 spend reduction plans and those seeking to re-engineer their equipment lease procurement process in advance of the new lease accounting standards (FASB ASC 842 and IFRS 16).

What: Spend Management for Equipment Leases - Five Best Practices.

Key Topics will include:
- Managing Equipment Leasing as a Spend Category.
- Unbundling Finance from Equipment Negotiations.
- Minimizing Evergreen and End-of-Term Fees.
- Quantifying and Tracking the Savings.
- Evaluating the Business Case.

How: Educational webinar with audience Q&A.

Who: Bob Solomon, CEO of Software Platform Consulting and Michael Keeler, CEO of LeaseAccelerator.

When: Thursday, January 21, 2016 at 1 p.m. Eastern (10 a.m. Pacific).

Where: Sign up for the webinar here: http://elm.leaseaccelerator.com/procurementwebinar.html.

About LeaseAccelerator:

LeaseAccelerator offers the market-leading SaaS solution for Equipment Lease Management (ELM), delivering hard cost savings, compliance, and best practices to large, international lessees. LeaseAccelerator is the only solution that covers the entire enterprise equipment leasing lifecycle, including: Equipment Lease Sourcing, saving 6-8 percent by driving down capital costs; Portfolio and Performance Management, saving 8-12 percent by improving end-of-term return performance; and Lease Accounting, enabling compliance with current and new FASB, IFRS, and SOX standards. Learn more at http://www.leaseaccelerator.com/.

Through LeaseAccelerator's Equipment Lease Sourcing marketplace, customers can access The Global Lessor Network (GLN), a community of more than 500 lessors around the world who compete to win our customers' business. Using the GLN, global companies with a need for in-country leasing expertise and financing can identify and transact with local lessors. LeaseAccelerator supports transactions in 50 countries, spanning a wide variety of asset types and deal sizes. Lessors are encouraged to register at http://www.lessornetwork.com/.

Media Contact: Max Leitenberger, Buttonwood Communications Group, 914-434-5725, Maxl[at]buttonwood.com.

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Twitter: @LeaseAccelerate

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/leaseaccelerator-to-host-webinar-on-spend-management-for-equipment-leases-2016-0119-02.shtml.

NEWS SOURCE LeaseAccelerator :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.

LeaseAccelerator to Host Educational Webinar on New Lease Accounting Standards

Equipment Lease Management Software

GREAT FALLS, Va., Nov. 5, 2015 (SEND2PRESS NEWSWIRE) -- LeaseAccelerator, the leader in Equipment Lease Management Software, announced today that it will be hosting a webinar on the forthcoming Lease Accounting Standard changes. The company's experts have been closely monitoring the latest proposals and comments on both FASB 842 and IFRS 16.

Designed for Fortune 500 companies that lease more than $100M in equipment, the webinar will educate attendees on the new standards as well as offer consultation on how to start preparing for the changes.

What: Preview of the New Lease Accounting Standards - FASB 842 and IFRS 16.

Key Topics will include:
* When will the new rules for equipment leasing go into effect?
* How will the FASB rules compare to IFRS?
* Will you have to keep two sets of books during the transition period?
* How will this affect key financial ratios such as profitability, EBITDA and Return on Assets?

How: Educational webinar with audience Q&A.

Who: Michael Keeler, CEO of LeaseAccelerator.
Bruce Conway, Vice President of Operations at LeaseAccelerator.

When: Thursday, November 12 at 1 p.m. Eastern (10 a.m. Pacific).

Where: Sign up for the webinar here: http://elm.leaseaccelerator.com/LeaseAccountingChangesWebinar.html .

During the webinar, lease accounting experts will outline a nine-step process for transitioning to the new standards. Additionally, the presenters will share lessons learned from early adopters who have already re-engineered their leasing programs.

About LeaseAccelerator:
LeaseAccelerator offers market-leading SaaS solution for Equipment Lease Management (ELM); delivering hard cost savings, compliance, and best practices to large, international lessees. LeaseAccelerator is the only solution that covers the entire leasing lifecycle, including: Capital Sourcing, saving 6-8 percent by driving down capital costs; Portfolio Management, saving 8-12 percent by improving end-of-term return performance; and Lease Accounting, enabling compliance with current and new FASB, IFRS, and SOX. Learn more at http://www.leaseaccelerator.com/.

Through LeaseAccelerator's Capital Sourcing marketplace, customers can access The Global Lessor Network (GLN), a community of more than 500 lessors around the world who compete to win our clients business. Using the GLN, global companies with a need for in-country leasing expertise and financing can identify and transact with local lessors. LeaseAccelerator supports transactions in 50 countries, spanning a wide variety of asset types: corporate aircraft, computers, construction, forklifts, furniture, IT, manufacturing, mining, networking, and transportation equipment. Lessors are encouraged to register at http://www.lessornetwork.com/.

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Twitter: @LeaseAccelerate

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/leaseaccelerator-to-host-educational-webinar-on-new-lease-accounting-standards-2015-1105-02.shtml.

NEWS SOURCE LeaseAccelerator :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2015 Send2Press® Newswire, a service of Neotrope®.