Leasestandards

Leasestandards is a company that provides software solutions for lease accounting and management. The company's platform is designed to help businesses comply with accounting standards such as ASC 842 and IFRS 16, which require companies to recognize leases on their balance sheets. Leasestandards' software automates the process of lease data collection, calculation, and reporting, aiming to reduce errors and streamline compliance efforts.

The platform typically offers features like lease abstraction, which involves extracting key terms from lease agreements, and calculation engines that determine the appropriate lease liability and right-of-use asset. It also provides reporting tools to generate financial statements and disclosures required by the new lease accounting standards. By centralizing lease data and automating complex calculations, Leasestandards aims to provide organizations with greater visibility and control over their lease portfolios. The company serves a range of industries and business sizes, from small enterprises to large corporations. Their focus is on simplifying the complexities of lease accounting and helping clients achieve accurate and timely financial reporting.