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Watch this video to learn more about disclosure reporting in Occupier, or read along below.
Lease disclosures are intended to give financial statement users a better understanding of an entity's leasing activities. Disclosures are intended to supplement the amounts recorded in the financial statements so that financial statement users can better understand the nature of an entity’s leasing activities from the standpoint of both lessees and lessors. This report can help you create your quantitative elements of your lease accounting footnote for any period. Read more on this topic in our blog: Disclosure requirements explained under ASC 842.
Occupier's disclosures feature uses all the lease information compiled in Lease Administration and Lease Accounting to populate the required Lease Accounting footnote disclosure in accordance with ASC 842 and IFRS 16 for your Financial Statements. For more information on exporting your disclosures report, refer to this article.
This will assist with calculating the sometimes difficult/tedious disclosures and ensure that you are 100% compliant with the new accounting standard(s).
We also can help with some of the qualitative disclosure information and provide a list of significant assumptions from our Measurements report. Users can filter and export key lease information from the lease measurements, such as discount rates, impairment amounts, lease terms, classifications, and much more.