Lucernex Technologies, an innovative developer of business intelligence software for real estate management and development, today announced that it has created a CPA-verified, upgraded financial engine that will soon be available within its lease analysis and lease administration solutions. Lucernex’ upgraded financial engine is the first available in the IWMS and lease administration software industries that is compliant with the expected changes to the Financial Accounting Standards Board (FASB) rules for lease accounting. The capabilities of the new financial engine will include enabling users to compare the financial impact of the expected new FASB rules to the financial impact of the current rules.
“Once the new FASB rules go into effect, any company using a lease administration solution will need to update its software in order to stay compliant,” said Joe Valeri, president, Lucernex Technologies. “At Lucernex, we have labored to develop the core formulas that will enable our products to address these new rules and we have had them CPA verified to ensure accuracy. This upgrade will allow us to offer customers a smooth and easy transition from their old software to help them stay ahead of the changes by updating their lease accounting practices.”
Lucernex will incorporate its upgraded financial engine within the next generations of Lx LseMod Corporate, its site selection lease modeling and financial analysis software, and Lx Contracts, its lease administration and contract management software. All Lx LseMod Corporate and Lx Contracts users can upgrade by early 2011.
Joe Valeri and Jim Duport, Lucernex’s lease financials expert, will be discussing the creation of the upgraded financial engine, as well as the expected impact of the FASB rule changes on lease accounting practices and software, in greater detail regularly over the next few months on the Lucernex Executive Blog. For the latest product and industry news from Lucernex, please visit lucernex.com.
Founded in 2000, Lucernex Technologies (lucernex.com) provides real estate developers and facility managers with powerful software tools to guide them through the real estate development process. For nearly a decade, Fortune 500 companies in the commercial real estate, hospitality, retail, construction and engineering industries, both in the United States and Europe, have been utilizing Lucernex Technologies software solutions every day to better manage the development lifecycle. As an innovative leader in Integrated Workplace Management System (IWMS) solutions and lease administration solutions, Lucernex continues to grow its customer base by applying its Web-based software expertise and real estate development insight to provide advanced tools and services for business.