Why was simpLEASE Created?
Change is inevitable and can be challenging.
The new accounting standard for leases represents a major change for nearly all organizations, but it doesn’t need to be disruptive. Schneider Downs Technology Advisors has developed a web-based software solution that can simplify your transition to the new standard. The program was produced with insights from our own accounting professionals, ensuring that it is current, compliant and easy for clients to implement. We’ve simplified lease accounting so you can focus on the next big change on the horizon.
simpLEASE was created to help organizations adapt to the new lease accounting standards introduced by the Financial Accounting Standards Board (FASB). (For a complete report on the new lease accounting standards, download our free whitepaper.)
Nearly every company or organization utilizes lease contracts as part of its day-to-day operations. Recent changes by the FASB will dramatically alter how these companies identify those leases on their annual financial statements. For some organizations, this will mean analyzing hundreds – even thousands – of individual lease contacts – a time-consuming and laborious process.
simpLEASE is a software program that provides easy-to-understand guidance to analyze each individual lease. The program was developed in conjunction with the accountants at Schneider Downs, one of the nation’s 60 largest public accounting firms.
simpLEASE uses a wizard-based system to guide the user through the process. By answering a series of prompts about each contract, the program provides clarity on how the lease should be reported. Whether analyzing one lease or a thousand, the program provides fast and accurate results.