Ecologic Lessee Services, a global provider of outsourcing, software and capital sourcing services to corporate and nonprofit equipment lessees, said it has published a free white paper to help lessees prepare for the IFRS lease accounting changes.

The white paper is titled: “How to Prepare Now for the Coming Lease Accounting Changes. Companies Will Need 12-24 Months to Create and Implement Processes and Systems to Comply with the New Standard. Companies Can Capture Significant Savings as an Added Benefit of the Comprehensive Compliance Process.”

“Remember Year 2000 and Sarbanes-Oxley compliance? It feels like 1998 and 2002 all over again – when the corporate finance community last faced the threat of imminent deadlines. The ambiguity, pressure, impedance and anxiety that we experienced then have all come roaring back. This time it’s the deadline for complying with the new IFRS lease accounting standard changes that looms ahead of us,” states Michael Keeler, Ecologic’s CEO and principal author of the white paper.

Angela Sabella, Ecologic’s CFO, explains, “Our team decided to take on the fear directly and provide timely, actionable information to the leasing community. The white paper explains in detail the potential issues facing equipment lessees under the new lease accounting standards and presents a comprehensive nine-step plan for implementing a transition project and improving the financial performance of your lease portfolio in the process. Lessees can take immediate action with this document.

As a supplement, Ecologic will also send regular updates of the FASB/IASB’s deliberations and decisions along with commentary to anyone who downloads the white paper.

To download the white paper click here.