The Classic Add-In enables one to access the routines contained in the Classic lease evaluation software from within the Microsoft Excel package. This enables one to produce lessee or lessor accounting reports (under IFRS 16, UK FRS 102 or US GAAP Topic 842) for a portfolio of equipment leases or property leases at the click of a few buttons.
As long as the lease details for the portfolios are within an Excel workbook or can be copied to an Excel workbook, the Classic Add-in can determine the accounting for portfolios ranging in size from a few leases to several thousand leases.
It can handle complex rental pattern and carries out the calculations with precision, taking into account the number of days in each period. It can also carry out the transition from IAS 17 to IFRS 16 for lessees under all the IFRS 16 transition options.
The Classic add-in provides lessors with a standard template for providing information to their customers and one which lessees can use to perform the calculations for their accounts and to assist them in determining appropriate accounting policies.
The add-in can also handle changes over the life of the leases, both before and after transition, such as:
• changes in the lease payments (such as for changes in an index or interest rate);
• changes in the lease term;
• impairments; and
Reports can be produced in summary form or broken down by lease and can be produced monthly, quarterly, half yearly or annually. These comprise:
• cash flows;
• income statements;
• balance sheets;
• notes to the accounts;
• journals; and
• details of cash payments due
Sensitivities can also be carried showing the impact, in graphical form, of changes in the discount rate and different transition options.