Classic® Lease Evaluation Software
Classic is one of the leading lease evaluation and accounting software packages 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. It has been fully updated to include all the functionality required for lessees and lessors to account for leases under the new lease accounting standard IFRS 16 (including the IFRS 16 transition options).
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.
Classic will solve for virtually any lease parameter and combines the ease of use of a specialist package with spreadsheet-style flexibility to make it one of the most sophisticated lease evaluation packages available.
Classic has been designed to handle all tax aspects of leasing from small ticket transactions to the most complex cross border arrangements and is regularly updated to reflect the latest UK Finance Acts or proposed tax changes.
Classic will produce cash flow reports, tax reports, profit and loss accounts, balance sheets and notes to the accounts for individual leases or portfolios of leases on a wide variety of lessor and lessee accounting bases, including those required by International Financial Reporting Standards (IAS 17 and I 16) and UK GAAP (FRS 102). ‘Lease versus buy’ reports are also available for lessees.
See Downloads for a booklet giving further details.