Lucernex Technologies Annouces the Release of Updated of Software to Manage the FASB Lease Accounting Changes
The release of LX LseMod Corporate 15 is the newest edition to Lucernex's industry-leading lease modeling and financial analysis software. It features a simplified interface, reporting capabilities and upgraded financial engine to manage FASB change
DALLAS, TX, April 15, 2011
Lucernex Technologies, an innovative developer of business intelligence software for real estate professionals, today announces the release of Lx LseMod Corporate 15, the newest edition of Lucernex's industry-leading lease modeling and financial analysis software. Lx LseMod Corporate 15 features a simplified interface, enhanced reporting capabilities and an upgraded financial engine that accommodates the upcoming rule changes in lease accounting proposed by the Financial Accounting Standards Board (FASB)."NEW" key features & benefits of Lx LseMod Corporate 15 include:
• "New vs. Old" analysis comparing the current FASB rules with the new proposed rules
• Exact days vs. months, i.e., Lease Term can start or end on any day in the month
• Improved configurability/flexibility of inputs, outputs, and reporting features:
o Modify nearly all line items on a per-month basis
o Mid-term landlord incentive capable
o Depreciation is salvage value capable and modifiable monthly
• Reports present cost(s) on a line item basis
• Rent accrual starts with the transaction date, which is flexible
• Seamless handling of international transactions:
o Foreign exchange calculations
o Space measurement
• GAAP - Straight line, Cash, or Scenario rent for Base Rent, Additional Rents by line item
• A much more intuitive 'cleaner' user interface and smaller file size
• Enhanced error checking
• Deal Sheet
o Improved data collection process
o Increase accuracy of information
o Improved ability for analysis
The ability to do "new vs. old" analyses combined with the Scenarios function allows a real estate professional to see firsthand the impact of the proposed FASB changes. The inclusion of a detailed percentage rent line item expense makes it easy to compare and analyze retail lease structures. The true impact of a percentage rent clause and its associated breakpoints can be more thoroughly analyzed improving landlord-tenant negotiations and retail lease structure.
"Once the new FASB rules go into effect, any company using a lease analysis or lease administration solution will need to upgrade its software in order to stay compliant. At this time, Lx LseMod Corporate 15 is the only product on the market that is currently able to address the expected new regulations," said Mike Nuzum, CEO of Lucernex Technologies. "The Lucernex team is able to offer customers a smooth, easy transition from their old software to Lx LseMod Corporate 15 to help them stay ahead of the changes by updating their lease accounting practices."
Lx LseMod Corporate 15 is offered both as a stand-alone product and as a component of Lx Contracts, Lucernex's lease administration and contract management software solution designed for all types of real estate organizations with lease portfolios. For purchasing information, contact Lucernex at 972-403-7100 or visit http://www.lucernex.com.
Lucernex Technologies is an innovative developer of business intelligence software for real estate professionals. For further information, please contact us at (972.403.7100)