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EZ13TM
- The Lease Accounting Solution for Lessees and Lessors
Are you tired of
using calculators and spreadsheets to perform the
time-consuming and often confusing calculations required
to comply with FAS 13 (Accounting for Leases, called
ASC 840 in the new FASB Codification)?
Are
you looking for a more reliable way to account for
your leases? Concerned about whether your current
methods will pass Sarbanes-Oxley compliance review?
Then discover the many benefits of using EZ13, the
lease accounting system for lessees. It
eliminates the complexity and confusion associated
with generating FAS 13 journal entries by hand and
requires no prior knowledge of the standard. EZ13 will
literally pay for itself with one or two uses.
EZ13
is offered by Financial Computer
Systems, Inc., a company with over thirty years
of experience in providing automated lease accounting
solutions to both major corporations and smaller
firms throughout the United
States and Canada. Call today (203) 652-1375 to
place your order for EZ13. Try it risk-free for 30
days and you too will discover its many benefits.
"I honestly
have been telling a bunch of people how embarrassed I am
that I didn't go looking for this software 7 years ago."
- Controller, nationwide construction company
FULLY
COMPLIES WITH FAS 13, ACCOUNTING FOR LEASES:
•
Designed
to account for every type of lessee transaction (lessee:
the user of a leased asset, who pays rent)
•
Automatic
classification and capitalized value/rate computations
for every lease; including detailed results of all
capital/operating tests
•
Balance
Sheet and Income Statement (P&L) activity by period
with ending balances presented by lease and consolidated
•
Complete
footnote disclosures of future rent commitments
•
Straight-lining
of rents for operating leases with scheduled rent increases
(when desired)
•
Additions,
early terminations, and normal termination adjustments
calculated automatically
•
Catch-up accounting: A lease that started prior to the
current reporting period can be added to the database
with a current booking date so that prior reports are
unaffected
•
Correction terminations permitted to reverse activity
previously booked without affecting closed reporting
periods.
•
Transfer additions and terminations to move leases between
divisions mid-life without affecting prior reporting
•
Any Time Reporting: Allows you to select any time frame
for reporting: past, present, or future.
•
Land portion of rent automatically calculated for
combined land & building leases
•
Implicit interest rate calculated if unguaranteed
residual entered
•
Contingent rents tracked separately from minimum lease
payments; seven different types of contingent rent can
be recorded individually
•
Month to month lease extensions keep lease active
after expiration
•
Notice dates: Automatic reminders of rent changes, lease expirations,
and user-defined events
•
Operating
leases can be treated as capital using incremental
borrowing rate (for bank indenture reporting and potential
compliance with the FASB's plans
for revising lease accounting regulations) or a
specified rate
•
Consolidations:
Reports can be subtotaled and consolidated based on
user-defined criteria
•
Complete
hard copy record of lease transactions and classification
criteria available for audit purposes
Complies
with Canadian lease accounting standard CICA 3065
•
Can
be used to comply with International Accounting Standard
17 (IAS 17, Leases; fact sheet available describing alternate
reporting required)
•
Ideal
for accounting firms, corporations, and governmental
bodies
EASY
TO USE:
•
Requires
no expert knowledge of FAS 13; manual describes how
to handle various leasing situations
•
Formatted
screen input. On-line Help always available
•
Reporting
can be done either on the screen, on a printer, or to
a file (spreadsheet, PDF, and other formats)
•
Input data verified during entry
•
Comprehensive
user documentation, both online and printed, including text explaining all relevant
sections of FAS 13 and glossary
of common leasing terms
•
Also
useful as a financial calculator (present values of
multiple payment streams, internal rate of return, etc.)
•
Automated conversion of files from prior versions of EZ13
•
Telephone
support provided by trained specialists in FAS 13
•
Customization
available for specialized reports or automatic interfaces
with other systems
SPECIFICATIONS:
LEASE
DATA:
•
Designed
to account for all types of lessee leases
•
Maximum lease term:
9999 months (833 years)
•
Payment period lengths
allowed: Daily, Weekly, Monthly, Quarterly,
Semiannual, Yearly
•
Maximum number of
changes in rents (rent steps) per lease:
Unlimited
•
Maximum number of
leases per database: Unlimited
•
Precision of
imputed interest rate: 12 digits
•
Space for descriptive
information: Unlimited
•
Guaranteed &
unguaranteed residual values and asset salvage
values for maximum flexibility.
•
Automatic calculation of rents for leases with
level principal amortization or rent
escalation clauses
•
Depreciation:
Straight-line, Straight line with half-year
convention, 150% & 200% declining balance,
or no depreciation (other methods available
as customizations)
•
Account numbers can be specified for
individual leases or groups of leases, to be
output on spreadsheets
•
Pictures/scanned
documents can be attached and displayed/printed
•
Fund accounting (apportioning leases
among multiple fund accounts) available at extra cost
•
Asset Retirement Obligations (ARO,
as required by FAS 143) tracking
available at extra cost
REPORTING:
•
User-selectable
time frame: past, present, or future;
up to 999 periods, any length
•
Report
on one lease, group of leases (based
on lease number or any/all of seven fields), or all leases;
capital only, operating only, or both;
totals only or detail by lease
•
Balance
Sheet and Income Statement (P&L)
for selected time frames
•
Complete
set of journal entries
•
Amortization schedules
•
Expiring leases listing
•
Depreciation over economic life, after
lease expiration (for leases with
ownership transfer or bargain purchase
option)
•
All
calculations track fractions of a
cent with reports tying to the penny
(for example, $100 depreciation over
3 months gives $33.33, $33.34, and
$33.33)
•
Depreciation can be calculated by 30-day
month or by day
•
Complete
FAS-13 footnote disclosure of future
rent commitments (with optional inclusion
of leases signed but not yet started)
•
Reports
to screen, printer, or file (including
Excel® or XML spreadsheet, PDF, HTML)
•
Customized
reports available upon request.
LESSOR
EDITION:
EZ13 is also available in an edition for lessors.
The lessor edition includes essentially
the same input and reporting options,
but shows output appropriate to income
leases. Operating and direct financing
capital leases are supported; sales-type
capital leases can be handled with some
manual adjustment. Leveraged leases are
not supported.
The price
for the lessor version of EZ13 is the
same as for the lessee version (see
below). A fully functional trial version
is available via the
trial download page.
Purchasers of both the lessee and lessor
version receive a 50% discount on the
second license.
SYSTEM
REQUIREMENTS:
•
Windows®
XP, Vista, or 7
•
70 MB hard
disk space for installation
•
Monitor with at least 800x600 resolution
(or higher)
VIEW DEMO:
View
a demonstration of EZ13, showing how easy it is to enter leases and
get reports (15 minutes, 21 MB
download)..
FREE
TRIAL VERSION:
Download
a fully functional copy (limited time
and number of leases; all features
enabled). Or for a guided,
interactive online demonstration,
contact us.
ORDERING
INFORMATION & PRICING:
EZ13 is
available in three editions:
1)
Standard
Edition: Unlimited number of
leases and databases: $3495 for a
single-computer license. Additional seat
licenses available for $1250 each.
2)
Lite Edition: One database: $1095
for up to 50 leases, $1995
for 100 leases. (The Lite Edition
does not include account
numbers or capitalizing operating
leases, and allows selecting leases
for reporting subgroups only
based on the beginning characters of
the lease number; report periods can
be full months, quarters, years,
or 28 days, not variable lengths, but can
start any day.)
3)
Mini Edition: Same limitations as
Lite Edition, no contingent rents:
$275 for 10 leases, $545
for 20 leases, $795 for 30
leases. (Download only;
printed documentation and
installation CD available at extra
cost.)
Current users of EZ13 v1.x:
Contact us for special upgrade prices!
Shipping and handling is $5 for first
class mail; contact us for faster
delivery options. Sales tax extra in
CT and PA. (International orders may
have additional taxes and duties; all
prices in US dollars.)
EZ13 can be purchased by check, money
order, or credit card (MasterCard,
Visa, or Discover); purchase orders
accepted. An
order form is available here, or call (203) 652-1375. Price includes installation
CD and a comprehensive manual describing
both the FAS-13 standard and usage
of EZ13. Free (toll call) technical
support, for both program usage and
lease accounting assistance, as well
as program updates, are provided for
one full year after
purchase. Ongoing support contracts
are available.
EZ13
is designed to provide lease accounting
for most common lessee needs. If you
have more demanding needs,
customization is available, or consider our lease
accounting service.
RISK-FREE
GUARANTEE:
Try EZ13 for 30 days.
If not completely satisfied, return
the installation disk and manual for a full
refund (excluding shipping).
A PROVEN SOLUTION:
Users of EZ13 include:
• National and regional retail chains
• National and regional restaurant chains
• Manufacturers
• Cable and telecommunications providers
• Hospitals
• State governments
• Construction companies
• Banks
References available on request.
EZ13
is a trademark of Financial Computer
Systems, Inc. Windows and Excel are
registered trademarks of Microsoft
Corporation.
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