Financial Computer Systems has been providing lease accounting services to corporations throughout the United States and Canada for over 40 years.
We work primarily with lessees. Our system also provides basic lease accounting for lessors, which is primarily used by lessee-oriented customers with a small lessor portfolio. Sublease accounting is available. Our software fully complies with the requirements of the Financial Accounting Standards Board's Statement of Financial Accounting Standards no. 13, Accounting for Leases, also known as FAS 13, SFAS 13, or FASB 13, or Accounting Standards Codification (ASC) Topic 840, as well as with other accounting standards that touch on lease accounting, including FAS 52, Foreign Currency Translation (for multinational companies), and FAS 121, Accounting for the Impairment of Long-Lived Assets. EZLease now also fully complies with ASC 842 and IFRS 16, the new lease accounting standards finalized in early 2016 for implementation in 2019.