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A
program to comply with AAS-17 and ASRB-1008 which is used by over 1,000
Firms of Accountants. Leasing Disclosure requirements are
COMPULSORY under the Companies Code (ASRB-1008) for Reporting
Entities. Company Accounts must now incorporate a lease
commitment note and must also CAPITALISE and depreciate the total value
of Finance Leases. LEASEMAN has been developed to provide a
quick
and easy way to comply with the Companies Code reporting requirements
for leases. LEASEMAN produces all of the information required
for
the Balance Sheet Note outlining Lease Commitments and the journal
entries for capitalisation of leases. All of the lease
information entered into LEASEMAN is stored permanently in an easily
editable lease register and Leases can be recalled and reported on at
any time. A detailed schedule of lease payments can be
produced
and leases can be consolidated by lease classification for future
years' calculations and journal entries.
The
Lease Movement Report provides a breakdown, for each lease and in
total, of all of the General Ledger Accounts for Leasing
transactions. The program covers most special situations
including balloon payments, structured leases, interest in advance and
arrears, monthly reporting and early termination by payout.
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