Q. What are lease accounting software systems?
What are lease accounting software systems?
The difference between ERP and accounting software lies in their functionality, range, design, outputs and of course size. Accounting software recently has been used as synonym to ERP which is perhaps most misleading to general people, accounting software has been and will remain one of the most important part of the Enterprise resource planning software as businesses run on the basis of accurate accounting but ERP is much more than only accounting. https://brightsg.com/en-gb/btcsoftware/
answered by saleem
Lease Accounting Software is a new category of financial applications developed specifically to automate the record-to-report processes for the new ASC 842, GASB 87, SFFAS 54, and IFRS 16 standards.
Fortunately, under ASC 842 there is a clear, short answer: no. The right to use intangible assets is outside of the scope of ASC 842 (see ASC 842-10-15-1). … A lessee is permitted, but not required to apply IFRS 16 to leases related to intangible assets, including software.
answered by lewis-h
Asked in CategoryBusiness
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