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October102022

Berdon Partners with LeaseCrunch to Facilitate Implementing the New Lease Standard

10.10.22 | Press Release

NEW YORK — We are excited to announce that, after an extensive search, we have selected LeaseCrunch as our chosen vendor to facilitate implementing the new lease standard. LeaseCrunch is a cloud-based software solution that helps you streamline adopting ASC 842, IFRS 16, GASB 87, and GASB 96 and offers a simple solution for generating monthly journal entries, amortization schedules, and quantitative footnote disclosures. You’ll also have access to the system to be able to add, edit, and revise your leases.

About LeaseCrunch

LeaseCrunch enables entities to easily address the challenges of the new lease standard while automating the required deliverables, including the substantial footnote disclosures. LeaseCrunch eases this burden by providing entities with many of the disclosures (FASB, GASB, and IFRS) needed for the footnotes.

Footnote Examples:   

  • Finance lease expense (amortization and interest)
  • Operating lease expense
  • Weighted-average remaining lease term
  • Weighted-average discount rate
  • Maturity analysis

LeaseCrunch will also calculate the corresponding journal entries.

Tips to help you get ready for the new lease standard:

  • Gather and review all service contracts and click here for a Readiness Checklist to help you assemble the information.
  • If you are unsure, use the LeaseCrunch Embedded Lease Identifier to determine whether a lease is an operating lease. Then provide the email results to Berdon for documentation.

If you are interested in an interactive overview of the solution, please contact us immediately.

If you have any questions, contact Bonnie Mann Falk at 516.806.1193 | BMannFalk@berdonllp.com, Smit Shah at 212.331.7493 | SmShah@berdonllp.com, and Angela Katehis at 212.331.7614 | AKatehis@berdonllp.com  or reach out to your Berdon advisor.

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