Oil and Gas Corporations Turn to PowerPlan to Automate FASB and IASB New Lease Standards
ATLANTA, July 10, 2018 (GLOBE NEWSWIRE) -- Nine major oil and gas corporations have selected PowerPlan’s Lease Accounting solution this year as the deadline for compliance with IASB’s and FASB’s new standards quickly approaches.
Oil and gas companies of all sizes have complex lease accounting requirements. Organizations turn to PowerPlan because of the software company’s extensive experience and capabilities to manage all lease types. “We developed our lease software to help companies understand the financial impact of the new regulations – not only to help comply with the new standards but also to understand how they will impact their income and property taxes,” said Brent Burns, Chief Operating Officer of PowerPlan. “PowerPlan’s configurable, easy-to-use solutions help organizations with thousands of leases have greater visibility to forecast the impact they will have to their balance sheet.”
PowerPlan has been a leader in Lease Accounting software solutions for more than 15 years. With IASB’s and FASB’s new standards becoming effective on January 1, 2019, PowerPlan’s Lease Accounting Suite is the shining light for oil and gas companies around the globe.