End-to-end IFRS 16/Ind AS 116
Lease Administration and Accounting Software
The International Accounting Standards Board (IASB) issued IFRS 16 Leases, which requires lessees to recognise assets and liabilities for most leases. For lessors, there is little change to the existing accounting in IAS 17 Leases. The new standard will be effective for annual periods beginning on or after 1 January 2019.
Ministry of Corporate Affairs (MCA) in India has notified Ind AS 116 Leases on 30 March 2019. The new leasing standard is applicable to all Indian companies complying with Indian Accounting Standards (Ind AS) for annual periods beginning on or after 1 April 2019.
LeazeOn is an end-to-end lease administration and accounting software for IFRS 16 and Ind AS 116 compliance requirements. It provides automated solution for transition accounting, handling large volumes of leasing contracts, reporting and disclosure requirements.
Features
Companies all around the world lease properties and other assets ranging from corporate offices, retails stores, vehicles, aircrafts, ships, manufacturing equipment etc. Changes to the lease accounting standard have a far-reaching impact on lessees' business processes, systems, controls and accounting. It is almost impossible to work around lease accounting using spreadsheets because of complex accounting relating to transition options, practical expedients, frequent remeasurements and modifications. LeazeOn provides automated solution to address all these issues and achieve your objectives.
If your organisation has more than handful of leases and wants to be better prepared for lease administration and accounting, book a demo with LeazeOn.
Overview
LeazeOn Private Limited is a leading company providing IFRS 16 and Ind AS 116 Lease Administration and Lease Accounting Solutions. The Company was founded by Information Technology professionals and Chartered Accountants. The company employs an in-house development team and a team of chartered accountants with IFRS 16 / Ind AS 116 expertise to assist companies seeking to adopt the new leasing standard. This team is ably backed up by a customer support team providing on-boarding and customer support services.
Resources
Team
- Akshay Oke is the Co-founder, CEO and Managing Director of LeazeOn - a leading company providing IFRS 16 and Ind AS 116 Lease administration and accounting solutions. He is also a Partner at FinPro Consulting, the firm that provides Accounting Advisory and Training Solutions
- Akshay is a Chartered Accountant and ACCA Diploma in IFRS holder having more than 11 years of experience in IFRS, Ind AS, US GAAP and financial reporting domain. He was involved in various IFRS / Ind AS / US GAAP implementation projects in the past
- He has formulated a research paper on IFRS 16 - Leases and is a regular speaker on financial reporting and company law matters at various forums including Institute of Chartered Accountants of India.
- His action oriented entrepreneurial skills has helped him establish great track record of developing go to market strategies and formulating lasting partnerships.
- Ravindra Damle is a Co-founder of LeazeOn and co-founder and COO of Soft Corner (a software product company).
- He has been a key person in designing some key products like VitalStatistix and ekspens (an expense management product) and has worked on several products for NGOs like Shelter associates
- Other than software development he is a passionate trekker, having done several treks in the Himalayas.
- He has an M.Sc (Comp.Sc.) degree from Pune University, before which he graduated in Physics.
- Arun Kadekodi is a Co-founder of LeazeOn and co-founder and CEO of Soft Corner (a software product company). He also does a lot of work for NGOs and is a governing council member of an NGO working in sanitation, called Shelter associates
- He has been a key person in designing some key financial products like eMerge and ekspens (an expense management product)
- Other than software development, his passions are teaching, hiking in the Himalayas and long distance cycling.
- He has an M.Tech (Comp.Sc.) degree from Pune University, before which he graduated in Statistics and Applied Computer Science.
- Amit Darekar is a Co-founder at LeazeOn and Partner with FinPro Consulting - a leading company providing IFRS / Ind AS / US GAAP training and implementation services.
- Amit is a Chartered Accountant and ACCA Diploma in IFRS holder having more than 14 years of experience in IFRS, Ind AS, US GAAP and financial reporting domain. He specialises in providing IFRS, Ind AS and US GAAP trainings to various corporates, ACCA courses and Chartered Accountant students.
- He has formulated a research paper on IFRS 15 - Revenue from contracts with customers
- His vast experience has certainly helped LeazeOn in formulating a robust software on IFRS 16 / Ind AS 116 Leases
Mission
Provide a robust software solution for lease contract accounting and management under different financial reporting frameworks across the globe. Work closely with the corporate finance teams to help migrate existing lease contracts seamlessly on the LeazeOn platform.
Vision
LeazeOn's strategic vision is to provide a stable software platform using the cutting-edge technology to manage complete lease contract accounting and management solution. We aim to provide a single solution that addresses all the different financial reporting frameworks followed by organisations across the globe.