Crunchafi Lease Accounting Tools
Crunchafi Lease Accounting Tools offers a suite of resources including readiness assessments for new lease standards and GASB 96, ASC 842 preparation checklists, lease review checklists for office and vehicle leases, and an embedded lease identifier to help organizations comply with lease accounting requirements.
Tools for Lease Accounting
Readiness Assessment: Are you prepared for the new lease standard
A tool to assess your preparedness for the new lease accounting standard.
ASC 842 Readiness Checklist
A checklist to help you prepare for ASC 842 lease accounting requirements.
Lease Review Checklists: Office Space & Vehicle Leases
Checklists designed for reviewing office space and vehicle leases.
The Embedded Lease Identifier
A tool to help identify embedded leases within contracts.
Readiness Assessment: GASB 96 Subscription-Based IT Arrangements
A readiness assessment tool for GASB 96 subscription-based IT arrangements.
Related
Crunchafi | Lease Accounting & Data Extraction
Crunchafi offers intuitive SaaS solutions for CPAs that automate lease accounting and financial data extraction, providing dual-access, audit-ready reports, standardized Excel outputs, and compliance with major accounting standards to streamline workflows, increase firm capacity, and enhance client relationships through secure, customizable, and user-friendly software with comprehensive support.
Sample Lease Accounting Reports
The Sample Lease Accounting Reports provide various exportable report types—including Journal Entries, Amortization Schedules, Footnote Disclosures, and All Lease Data—across ASC 842 Lessee and Lessor, GASB 87 Lessee and Lessor, and GASB 96 standards, each export featuring three tabs (Data, Criteria, and Lease) to display selected data, filters, and lease details, with some reports offering functional currency translation options.
In the News: FASB Releases 2022 GAAP Taxonomy
The Financial Accounting Standards Board (FASB) released its 2022 GAAP Taxonomy update, introducing new reporting elements such as credit losses excluding accrued interest, reinsurance contracts, pledged assets, debt obligations with recourse, changes in reporting entity, balance sheet offsetting, and financial statement location clarifications, while also deprecating obsolete guidance, refining labels, and modifying references to enhance clarity and usability for accounting and financial reporting.
Navigate GASB 87 and 96 Standards with Accounting Solutions
The article explains how government entities must adapt to GASB 87 and 96 standards by accurately recognizing and disclosing leases and subscription-based IT arrangements, emphasizing the importance of understanding these requirements and utilizing specialized accounting software to automate compliance, manage lease and subscription terms, and ensure precise financial reporting.
Accounting for ASC 842 in Your Cash Flow Statement
The article explains that under ASC 842, leases are recorded on the balance sheet as right-of-use (ROU) assets and lease liabilities without immediate cash flow impact, with operating lease payments classified as operating activities and finance lease principal payments as financing activities on the cash flow statement, while initial recognition of ROU assets and lease liabilities are disclosed as non-cash investing and financing activities, and lease cash incentives from lessors to lessees are also considered in the presentation.
Accounting Today names LeaseCrunch® as a top new product of 2019
Accounting Today named LeaseCrunch®, a lease accounting software developed by former CPA auditors and designed as an "audit in a box," as a top new product of 2019 for its customizable, user-friendly interface that simplifies compliance with new lease accounting standards, supports both CPA-led and client-managed bookkeeping, and includes features like audit guidance wizards, FASB and IFRS templates, and automated disclosures to efficiently handle complex lease portfolios.