Tango engages BKD to assess compliance with FASB and IFRS lease accounting requirements


Tango announced today that they are the first vendor in the Lease Accounting space to receive independent verification from a top accounting firm that the lease accounting calculations in Tango’s solution are consistent with FASB Accounting Standards Codifications (ASC) 840 and 842, and International Accounting Standards Board’s IFRS 16, Leases

Unlike other solutions in the marketplace that will require retrofitting to ensure compliance, Tango’s Lease Accounting functionality was built from the ground up to comply with these requirements…

Tango’s lease solution has gained significant traction in the market, and has already been selected by several global multi-brand retail clients across the grocery, pharmacy, apparel, home furnishings and specialty retail verticals. These global customers require compliance to both US and international standards, and unique to Tango’s review process was the inclusion of IFRS standards.

The independent review assessed how Tango’s solution treats common scenarios that impact compliance including data capture, the operating/finance classification test, detailed accounting schedules and journal entries for both FASB and IFRS considerations…

20170304a

20170304b

[Admin: To see other related posts, use the Tango tag.]

Continue reading

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s