The New Lease Accounting Standards: Reducing the Risk
It’s clear that the accounting and lease administration world is undergoing tremendous change as companies prepare to adopt the new lease accounting standards.
We Can Help You Tackle the New Lease FASB/IFRS Standards
It’s clear that the accounting and lease administration world is undergoing tremendous change as companies prepare to
adopt the new lease accounting standards – Financial Accounting Standards Board (FASB) ASC 842 and International Financial
Reporting Standard (IFRS) 16. These new regulations impact all entities, but particularly organizations with large lease portfolios.
What’s not clear is whether the existing lease accounting software solutions, which are responsible for capturing the necessary data and crunching the new calculations, are up to the task. This conundrum introduces a variable that CFOs and accountants do not like – RISK.
Tango Lease Administration and Accounting software was built from the ground up to adhere to the new accounting standards, which means we do not need to rewire our solution like other software providers – substantially reducing risk. But we wanted to go further – to ask and answer the hard questions that all CFOs and accountants need to know. Does your lease accounting software meet all the new requirements needed to comply with FASB ASC 842 and IFRS 16?
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To learn more about Tango's Road to Lease Compliance, visit our Resource Center.