R.I.S.C. Associates is a regulatory compliance consultancy and compliance automation tools developer that helps organizations across the country meet Regulatory and Corporate requirements through proper governance, risk and compliance (GRC) practices.We are trusted advisors to our clients and, as practitioners who have been on both sides of the table, we bring a unique and practical perspective to understanding your environment
LeaseTRAK™ automates the entire lease tracking and accounting process in preparation for the new FASB/IASB rules. The proposed changes are expected to have the greatest impact on lessees of significant amounts of "large-ticket" items, such as real estate, manufacturing equipment, power plants, aircraft, railcars and ships. However, the proposal would also affect virtually every company, including those that lease automobiles, computer equipment, copiers, office furniture and telecommunications equipment.
LeaseTRAK allows you to classify and track all leases and rentals. It automatically notifies you when contracts are going to terminate, when auto-renew deadlines are coming due, and also allows you to input contract details pertaining to early termination fees and penalties and month-to-month continuation of service following termination.
Stay tuned for updates as the proposed changes to accounting rules are brought forward for approval.
