Canon live on LOIS Accounting Software
Quadrent, providers of the LOIS SaaS lease accounting platform, is proud to announce that Canon Australia have signed and are live on the LOIS solution for the lease transition under both FASB and IFRS 16.
As a large popular brand, Canon Australia required the day-to-day functionality within LOIS for the streamlined FASB 842 accounting for their management reporting. In addition, the ability to also process IFRS 16 entries for their statutory accounts made LOIS a strong choice.
Quadrent looks forward to supporting the FASB functionality within LOIS to ensure that Canon can quickly and accurately handle the new accounting changes within their corporate business reporting process.
Quadrent is Australasia's leading and most trusted equipment financier and lease portfolio software provider. We enable you to deliver your technology solution via a leasing structure, and manage and report on your lease & asset portfolio for compliance with IFRS 16. Find out more about our services.
LOIS provides you with a consolidated view of all leases within your business structure and full IFRS 16 compliance, whether it be one entity or a global corporate. LOIS refers to Quadrent’s Lease Optimization Information System, which is a fully integrated portfolio and asset management tool for all your IFRS16 lease accounting compliance. We operate it under a master agreement. Plus, we’re the only supplier in Australasia. Read more about LOIS.
If you're interested in understanding more about IFRS 16 Compliance and LOIS, here are a couple of resources we can provide:
- Read more about IFRS 16 considerations and COVID19.
- Read about LOIS features and benefits and the clients that are already on board with us
- Explore the pros and cons of using spreadsheet applications such as Excel for the transition to IFRS 16 with this short whitepaper (15 minute read).
- Let our recent survey results from LOIS customers demonstrate the value of the product (3 minute read)
- Understand the pros and cons of leasing business assets with our whitepaper (15 minute read).
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