Classic Technology – 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 a member of the Joint IASB and FASB Working Group which assisted in the development of the new 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 impact and implementation of the new standard.
David was previously Director of Lease Accounting and Evaluation at KPMG. Alfa is the premier supplier of consultancy services and systems to the asset and consumer finance industries.
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.
Specialist Consultancy Services include advice on evaluating leases and other asset finance transactions and accounting related services. In the case of the new accounting standard on leases (IFRS 16), we can provide advice on the impact and implementation of the new standard, such as:
• Providing training to staff;
• Assisting with the collection of data required to implement IFRS 16;
• Assisting with assessing the impact of options etc in the leases;
• Evaluating the impact of differing accounting options to enable a company to reach a decision as to the most appropriate accounting policies to adopt.