Firm offers Crowe Lease Accounting Optimizer for public sector
CHICAGO, March 18, 2019 /PRNewswire/ -- With recent accounting standards requiring organizations to analyze their current lease catalog, public sector entities face new challenges as they work toward compliance. The Crowe Lease Accounting Optimizer for public sector tool helps these organizations track, account and report on lessee and lessor leases to comply with Governmental Accounting Standards Board (GASB) Statement No. 87. Crowe is a public accounting, consulting and technology firm with offices around the world.
Designed by the accounting and technology professionals at Crowe, the Crowe Lease Accounting Optimizer for public sector helps organizations overcome these challenges and streamline lease accounting business processes. The tool combines lease management with a financial calculator for organizations seeking compliance with GASB 87 regulations on accounting standards for leases.
The Crowe Lease Accounting Optimizer for public sector:
- Tracks lessee and lessor leases
- Automatically generates variable payments
- Automates the lease payment processes and eliminates duplicate data entry, making lease accounting compliance less labor-intensive
- Provides built-in audit controls and lease payment traceability
- Performs instant cash flow and lease analysis
"Public entities can often be both a lessor and lessee, making their overall lease portfolio incredibly complex," said Tom Reznicek, Crowe performance consulting principal. "We developed this tool to provide critical analyses and automate processes to not only help meet the GASB compliance standards, but also assist public sector entities in running their day-to-day operations better."
For more information on lease accounting, visit the Crowe government website.
Crowe LLP (www.crowe.com) is a public accounting, consulting and technology firm with offices around the world. Crowe uses its deep industry expertise to provide audit services to public and private entities. The firm and its subsidiaries also help clients make smart decisions that lead to lasting value with its tax, advisory, risk and performance services. Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.
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