Fixed Leased Assets
Manage risk across your leased assets under ASC 842 and IFRS 16
Leased assets accounting is part of Bloomberg Tax’s powerful fixed assets software. Boost your leased assets management efficiency with a single source of centralized data, automated processes, strong financial controls, accurate lease accounting, and reporting.
- Supports ASC 842 & IFRS 16 Accounting: Get the support you need to transition from ASC 840 to ASC 842 and IAS 17 to IFRS 16 – reducing the risk of errors and financial discrepancies.
- Calculations to Support Alternative Periods – Flexible Entity Management lets you track leased assets by entity, consolidate entities into groups, and manage custom calendars such as 52/53 week years.
- Journal Entries & Disclosure Reports: Auto-Generated Journal Entries cut down on manual entries, improve accuracy, and speed up reconciliation. Standard Reports provide robust yet concise information on your lease portfolio: payment data, amortization schedules, ASC 842 and IFRS 16 disclosures, and strategic insight to inform management.
- Asset & Liability Reports: Flexible reporting for Accurate Calculations performed at a daily level, such as right-of-use (ROU) asset and lease liability, amortization, and interest expense.
- Lease Timeline and Events: Modify, impair or cancel lease arrangements with instantaneously updated calculations
Your move toward ensuring compliance with leased assets accounting standards is only one step away. Complete the form to start experiencing the benefits of our fixed and leased assets accounting solution.