The world is about to change for organizations that lease a lot of equipment and they need to start preparing now for the impact the leases will likely have on their financial statements. Equipment leases have long lived in the shadows of the organization’s financial obligations but the recent changes made by the Financial Accounting Standards Board (FASB) board and the International Accounting Standard Board (IASB) will soon bring them into the light.
The more equipment leases you have and the more you pay for them the more significant the impact will likely be to your balance sheet, your debt ratios and your ability to borrow money.
It is important for your organization to start preparing for the impending equipment lease accounting changes now. Your first move is to get an equipment lease management system that acts as a single source of the truth.
Equipment Leasing is included in the Lucernex Enterprise collection.
All of our modules are a part of our fully integrated cloud based solution. In addition to being a single source of the truth for all your real estate information, it includes the following key capabilities:
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