The LeaseQuery Reporting and Disclosures module is part of the LeaseQuery Lease Accounting Software suite. It specializes in delivering extensive reporting and disclosure functionality for lease accounting.
The LeaseQuery module platform offers a user-friendly interface which aids in report and disclosure generation, even to those without an extensive background in accounting. The software allows users to tailor reports and disclosures depending on their specific needs and preferences.
The module provides users with a variety of standard reports, giving a detailed overview of the organization's lease portfolio and its effect on financial statements. In addition to these standard reports, users can create custom reports and disclosures by choosing specific lease data fields, filtering and sorting options, allowing them to generate unique reports that meet their specific requirements.
The LeaseQuery Reporting and Disclosures module ensures the accuracy and reliability of the generated reports and disclosures. This is achieved by utilizing lease accounting data stored in the LeaseQuery software. With an automatic update feature, any changes in the lease data are captured in real-time, reducing the need for manual data entry and minimizing the risk for potential errors.
The LeaseQuery Reporting and Disclosures module plays a critical role in ensuring compliance with lease accounting regulations and standards such as ASC 842 and IFRS 16. The necessary disclosure requirements are integrated into the reports, ensuring adherence to regulatory guidelines.