Financial Computer Systems is a leading provider of lease accounting software and services to corporations throughout the United States and Canada. For over 40 years, we have helped lessees and lessors make sense of the complicated rules found in FAS 13 (U.S.) and IAS 17 (worldwide), properly accounting for both capital (finance) and operating leases.
The FASB and IASB recently completed a major revision to the lease accounting standard (ASC 842 for U.S. GAAP, IFRS 16 for international). Effective at the beginning of 2019, virtually all leases currently considered operating will need to appear on the lessee's balance sheet. All existing lease accounting software, including Excel spreadsheets that many companies have relied on for years, will soon be obselete. FCS has the solution.
For more information on how we can help you meet your lease accounting needs, now and for the future, please contact us.