Classic® Lease Evaluation Software
The key product of Classic Technology is the Classic® lease evaluation software, which is one of the leading lease evaluation packages in the UK and is used by all major UK banks.
It enables lessors and lessees to evaluate and structure leases (or similar financing transactions) and to examine the impact of differing accounting methods, including all the functionality required for lessees and lessors to account for leases under the lease accounting standard IFRS 16.
There is also a Microsoft Excel add-in that enables the IFRS 16 accounting to be applied to individual leases or portfolios of leases at the click of a few buttons.
Software & Specialist Consultancy Services
Classic Technology was formed in 2004 as a joint venture between David Maxwell and the founders of CHP Consulting (now Alfa) to support the Classic lease evaluation software and to provide specialist asset finance services.
David was previously Director of Lease Accounting and Evaluation at KPMG. Alfa is a supplier of consultancy services and systems to the asset and consumer finance industries.
David was a member of the Joint IASB and FASB Working Group which assisted in the development of the lease accounting standard IFRS 16 and so, as well as being able to provide the tools necessary to carry out the calculations required under the new standard, we are also well placed to provide advice and assistance on the application of the standard.