Frequently Asked Lease Accounting Questions

FASB, IASB and GASB set up new rules for lease accounting following issues with reporting at companies like Enron and WorldCom. Now companies are required to capitalize most of their leases on their balance sheet and report the corresponding assets and liabilities.

ASC 842, GASB 87, GASB 96, IFRS 16 as well as the older standards FAS 13/ASC 840 and IAS 17.

According to EY, AROs are “legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or the normal operation of such assets.” AROs require specialized accounting that is provided by EZLease.

EZLease enables ongoing, self-service bulk import for new leases and in-life lease events, including payment adjustments.

EZLease can be set up in hours and our customers typically get compliant in less than a day.

EZLease is a cloud-based application and can be accessed from all major, current browsers.

EZLease makes compliance fast and simple for everyone. It is very cost-effective (no one likes the word cheap!) and comes with a money-back guarantee. Sign up for our free trial here to see for yourself.

Because in a market with choice, sometimes the best approach is to put your money where your mouth is! So, you have 30 days to determine for yourself whether we are right, and if not, you’ll get a refund if EZLease doesn’t meet your lease accounting needs.

We charge per year based on lease portfolio size and offer multi-year subscriptions. See pricing here.

EZLease has over 15 years experience of lease accounting implementations behind it, covering private, government and public organizations of all sizes.  The software was relaunched recently to meet the demand for a simple, easy, cloud-based solution.

EZLease works with a large network of trusted partners who can help with any lease accounting project, including finding and abstracting leases. Contact us to get matched with a partner.

Try EZLease today!

How to Choose Lease Accounting Software