Real Property / Leases / Lease Portfolio
Archibus Extension for Lease Accounting: Overview
The Archibus Extension for Lease Accounting is a set of reports, tables, and tools for classifying leases (either building or equipment) as finance leases and operating leases according to FASB and IASB standards. The Extension is fully integrated in the Archibus Leases application; however, the Extension does require an additional license which is sold separately at an additional cost.
The Archibus Extension for Lease Accounting adds the following tasks to the Leases application :
- Background Data process
- Define Sub-ledger Rules
- Lease Portfolio process
- Lease Classification Wizard
- Lease Classification Analysis Console
- Generate Ledger Entries for Leases
- Lease Expense Recognition
- Quantitative Disclosures
If you have a license for the Archibus Extension for Lease Accounting, the Navigator appears as follows:
The main component of the Archibus Extension for Lease Accounting is the Lease Classification Wizard, which walks you through a series of questions to determine if a lease is classified as a finance lease or an operating lease.