Moss Adams Picks LeaseCrunch to Help Clients Implement Lease Standard
Moss Adams, a leading accounting and consulting firm, has chosen LeaseCrunch's cloud-based lease accounting software to help clients efficiently implement the new lease accounting standards (ASC 842, GASB 87, IFRS 16) by providing accurate calculations, documentation, and collaboration tools that reduce errors and ensure consistent application of accounting policies.
LeaseCrunch, a cloud-based lease accounting software company, announced that Moss Adams, one of the largest accounting, consulting, and wealth management firms in the nation, has selected LeaseCrunch to help clients implement the new lease accounting standards.
The new lease standards (ASC 842 and GASB 87 in the U.S.; IFRS 16 internationally) require operating leases to be included on the balance sheet, ensuring all lease obligations are reflected in an organization’s financial statements. This change aims to provide a clearer picture of an organization’s lease obligations and overall financial situation.
Many clients rely on Moss Adams for expertise and guidance in adopting and understanding the nuances of these standards. The firm sought an intuitive and efficient solution to generate the necessary calculations and documentation of the underlying inputs and assumptions used by a reporting entity’s management.
Bret Rutter, National Office Partner and lease accounting specialist at Moss Adams, stated, “Although lease accounting calculations can be done in a spreadsheet, having a dedicated lease accounting system like LeaseCrunch is significantly more efficient and greatly reduces the potential for formula errors. LeaseCrunch provides features to help ensure relevant considerations about a lease are evaluated and the organization’s accounting policies are applied in a consistent and documented manner. A cloud-based platform also provides for efficient client collaboration and engagement.”
Ane Ohm, LeaseCrunch Co-Founder and CEO, commented, “Moss Adams is a forward-thinking firm that understands its clients’ business needs and finds innovative ways to stay ahead of them. We’re thrilled to simplify certain aspects of the new lease accounting standards for clients of Moss Adams and provide a tool for the firm to use in its audit procedures related to a client’s lease accounting when such calculations are performed using a means other than LeaseCrunch.”