11th Largest CPA Firm in the U.S Selects LeaseCrunch to Help Comply with New FASB, GASB and IFRS Lease Accounting Standards

LeaseCrunch, a cloud-based lease accounting software company, today announced that Moss Adams, one of the largest accounting, consulting and wealth management firms in the nation, selected LeaseCrunch to help clients implement the new lease accounting standards. 

The new lease standard (ASC 842 and GASB 87 in the U.S.; IFRS 16 internationally) adds operating leases onto the balance sheet so all lease obligations are included on the financial statements. This change was intended by standard setters to better reflect an organization’s lease obligations for all leases on their financial situation. 

Many clients look to Moss Adams for knowledge and guidance on the adoption and nuances of the applicable standard. The firm wanted an intuitive and efficient solution to generate the required calculations and documentation of the underlying inputs and assumptions used by a reporting entity’s management.  

“Although lease accounting calculations can be done in a spreadsheet, having a dedicated lease accounting system like LeaseCrunch is significantly more efficient and greatly reduces the potential for formula errors,” said Bret Rutter, National Office Partner and lease accounting specialist at Moss Adams. “LeaseCrunch provides features to help ensure relevant considerations about a lease are evaluated and the organization’s accounting policies are applied in a consistent and documented manner. A cloud-based platform also provides for efficient client collaboration and engagement.”

“Moss Adams is a forward-thinking firm that understands its clients’ business needs and finds innovative ways to stay ahead of them,” said Ane Ohm, LeaseCrunch Co-Founder and CEO. “We’re thrilled to simplify certain aspects of the new lease accounting standards for clients of Moss Adams and provide a tool for the firm to use in its audit procedures related to a client’s lease accounting when such calculations are performed using a means other than LeaseCrunch.”