Meet the ASC 842 standards’ effective date with Pangea and Crowe’s lease accounting solution

ASC 842 effective date will be on January 1, 2020; if you are a private company and rushing to meet these standards; time is running out.

Today, I am going to show you how to effectively and automatically meet the newest ASC 842 standards within your business.

 ASC 842 effective date

1.    ASC 842 /IFRS 16 Lease Accounting Solution

Crowe’s ASC842/IFRS16 Lease Accounting Solution is designed to work within Microsoft Dynamics 365 Finance & Operation or AX2012, allowing you to comply with ASC 842 requirements effortlessly and effectively.

Implemented by Pangea Group and Crowe to efficiently deliver the following:

  • Optimize your company’s lease accounting processes.
  • Ensure your compliance with both international standards like IFRS 16 and with ASC 842.
  • Automate payments and lease operations
  • Simplify lease accounting requirements and minimize data entry.
  • Easily manage thousands of leases and work across multiple legal entities.

 ASC 842 effective date

2.   ASC 842 embedded within Microsoft Dynamics 365

ASC842/IFRS16 Lease Accounting Solution seamlessly works within Microsoft Dynamics 365 Finance and Operations and Dynamics AX2012, not only to help you adapt your business to the newest standards but also by automating the process.

Microsoft Dynamics 365 Finance and Operations together with Crowe’s Accounting Solution, can support your accounting and financial reporting to make sure you adequately comply on time for the ASC 842 effective date while managing revenue and expenses.

The solution will provide insights about your lessee and lessor operations to assist you in obtaining most of the economic benefits that you can get by the asset and the use of the asset.

Those were only some of the features that ASC842/IFRS16 Lease Accounting Solution can offer to manage your leasing operations before the ASC 842 effective date is due.

If you want to learn more about Crowe’s ASC842/IFRS16 Lease Accounting Solution, Dynamics 365 Finance and Operations or Pangea Group, please contact us.