Black Owl

Black Owl Systems offers comprehensive lease accounting software to assist finance and IT leaders manage lease accounting more effectively and efficiently. This software is engineered to streamline the accounting process, drastically reducing the need for staff involvement and thereby freeing up valuable time.

Key Features of Black Owl Lease Accounting Software:

1. Lease Accounting Compliance:

   • Supports major accounting standards, including FASB ASC 842, IASB IFRS 16, and ASPE Section 3065.
   • Accommodates various lease types under these standards, such as finance, operating, low-value, and non-lease contracts for lessees, and sales-type, direct financing, and operating for lessors.

2. Advanced Functionalities:

   • No Month-End Processing: Automated calculations and postings with auditable journal entries.
   • Multi-Standards Compliance: Meets requirements of US GAAP, IFRS, and ASPE.
   • Multi-Currency & FX: Includes daily rate imports and month-end calculations.
   • Coding & Allocations: Allocates lease costs to various centers, ventures, etc.
   • Variable Costs & Forecasting: Enables tracking and forecasting of variable costs.
   • Audit Trails: Provides reliable audit trails for each lease change.
   • Multi-Entity Management: Supports multiple companies and coding structures.
   • Contract Management: Organizes contracts to the asset component level.
   • JE Audit Trail: Offers full visibility of all journal entries.

3. Lease Management:

   • Implicate Rate Calculation: Automatically calculates the implied rate based on lessor agreement terms.
   • Sublease Management: Facilitates creating and tracking sublease agreements, including multiple sublease levels.

4. Calculations & Reporting:

   • Accruals & Prepaids: Books costs in accurate accounting periods.
   • Liabilities Reporting: Differentiates between short-term and long-term liabilities.
   • Depreciation Methods: Includes various methods like straight line and diminishing balance.